USD/JPY halted by 102.09/101.80

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We have been bullish on the dollar and now believe that the long-anticipated USD rally could be about to commence. We remain medium-term bullish Japanese equities and medium-term bearish JPY."
- Credit Suisse (based on CNBC)

Pair's Outlook

USD/JPY continues to struggle with the resistance area at 102.09/101.80. This supply zone is created by the monthly R3 and the weekly R1, but the currency pair is buoyed by the up-trend support line at 101.23 that should prevent sell-offs. In the meantime, while the near-term technical indicators are mixed, most of the signals on a monthly time-frame are suggesting that the Dollar is bullish.

Traders' Sentiment

Due to inactivity of the exchange rate the traders had no reason to reposition themselves. Accordingly, the distribution between the long and short positions remains the same as yesterday, 69% to 31% respectively.
© Dukascopy Bank SA
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Actual Topics

Wed, 27 Nov 2013 07:45:23 GMT

USD/CHF failed at Jun low

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Wed, 27 Nov 2013 07:45:09 GMT

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