© Dukascopy Bank
"For the first half of 2012 the dollar continues to look appealing"
- ETX Capital (based on Bloomberg)
пЃ® Industry outlook
Rallies are currently prevented by a string of tough resistances situated at 78.08, 78.92 (200 day ma) and at 80.00. Thereby a chance of USD/JPY sliding down to a support located at 76.22 is gradually increasing.
пЃ® Traders' sentiment
The part of traders holding long positions has increased up to 54.25%, widening the difference in numbers among two camps. Consequently, the share of short positions has dropped down to 45.75%.
пЃ® Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 77.09, 77.29 and 77.41.
пЃ® Short position opened
A part of the brokers will close their short positions near initial support level at 76.77. In case of downtrend continuation, the pair might rebound from the S2 at 76.65 or S3 at 76.45.
© Dukascopy Bank