EUR/JPY reiterates bullish trend, goes for 97.93

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The austerity measures are obviously weighing on the economy. Investments and consumption, both private and public, are the hardest-hit areas. "
- Vincenzo Bova, MPS Capital Services (based on CNBC)

Pair's Outlook

EUR/JPY started a week lower after Friday's rally, yet on Tuesday the pair managed to pair gains after touching 96.80 (PP Weekly). If bullish momentum emerges, then 97.93 (61.80% Fibo) is likely to be the first resistance, and if it is successfully pierced, a path towards 98.43 (Upper Bollinger band) and 100.53 (100-day SMA) will be cleared.

Traders' Sentiment
Traders' sentiment remains bullish on EUR/JPY today as 71% of market participants are presently long on the currency pair and 29% of traders still expect the pair to decline further. The allocation of long and short positions indicates a weakening bullish sentiment as 54% of investors expect the pair to advance over the middle term.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 07 Aug 2012 15:59:15 GMT

AUD/USD tries to move above 1.0574

Bulls don't lose hope to  advance higher and at the moment the pair is fluctuating around 1.0574 (23.60% Fibo). A breakout here would expose the second and third resistance levels at 1.0629 (Upper Bollinger band) and 1.0668 (R2 Weekly), respectively.

Tue, 07 Aug 2012 17:16:08 GMT

EUR/AUD confronts 1.1768

EUR/AUD currency pair experiences another bullish reaction today, after the recent decline was stopped at 1.1729, and now the price is facing a 20-day SMA at 1.1768, which might change the presently established tendency. In case it is broken, then the currency couple might reach monthly R1 at 1.1827, which will probably reverse the bullish tendency. Moreover, RSI indicator went out of the over-sold area

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.