USD/JPY slid to 97.21/04

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Once the market starts to think the unthinkable might happen, then the dollar could dive. The market is getting worried a little."
- Sumitomo Mitsui Trust Bank (based on Reuters)

Pair's Outlook

The supports continue to resist immense selling pressure, but are slowly being eroded. Yesterday USD/JPY closed beneath the up-trend support that connected the troughs since this year's February. Now the currency pair has approached a cluster that consists of various levels, including a falling line, monthly S1 and weekly S1, even though long-term indicators are suggesting U.S. Dollar's appreciation in the future.

Traders' Sentiment
Most of the market participants are currently holding long positions on USD/JPY, even though lately the currency pair has been failing to rekindle bullish activity despite the presence of strong supports nearby. The distribution among the buy and sell orders is 69% and 31% respectively.
© Dukascopy Bank SA
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Actual Topics

Fri, 04 Oct 2013 07:35:55 GMT

USD/CHF is about to hit 0.8930

After yesterday's bearishness of USD/CHF the only notable support level that separates the spot price and the lows seen in February of 2012 is the weekly S2 at 0.8954, which is unlikely to resist the downward momentum for long.

Fri, 04 Oct 2013 07:20:10 GMT

GBP/USD retreats from weekly R1

The resistance at 1.6240 keeps on denying the Cable access to higher levels, such as 1.6313/1.6288, where the upper trend-line of the rising channel stands, and 1.6456/1.6390, which is mainly formed by the January high and the monthly R1.

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