USD/JPY bounces from weekly PP

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The yen's weakness accelerated, especially against Asian currencies, and that encourages inflows of tourists. Things in other Asian countries are also getting more expensive." 
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on MarketWatch)

Pair's Outlook

Yesterday the pair found a strong support to bounce higher and prepare another attempt to breach a 100 benchmark. USD/JPY made a spike to the weekly PP level at 98.50 and immediately reversed, stepping back to the resistance at 99.70, which has contained rallies for a month. If the pair spurs bullish sentiments, the pair should step to the monthly R3 level at 100.77.

Traders' Sentiment
SWFX marketplace participants patiently wait for more action in the pair, since the buy side possesses a vast majority of positions, expecting to see further depreciation of the Japanese Yen. Placed orders segment is heavily bullish, since 78% of orders are ready to buy the pair.
© Dukascopy Bank SA
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Actual Topics

Wed, 24 Apr 2013 07:35:06 GMT

USD/CHF soars

USD/CHF accomplished a huge surge yesterday, as the pair firmly stepped from the 20-day SMA and overcame the weekly R1 at 0.9382 and the 55-day SMA at 0.9399, peaking at 0.9458.

Wed, 24 Apr 2013 07:55:00 GMT

EUR/USD slips beneath 55-day SMA

After negative data on Chinese manufacturing industry and investors' speculation on Europe's key interest rate cut, the major currency pair dropped from the 200-day SMA at 1.3055 to the weekly S1 level at 1.2972. EUR/USD easily overcame the 20-day and the 55-day SMAs.

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