USD/CHF to reach 0.9756

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"China's rate cut wasn't enough to boost risk appetite. The situation in Europe hasn't changed. The yen and dollar are being bought in a bid for safety"
- Gaitame Online Co. (based on Bloomberg)

Pair's Outlook

Bullish inertia of USD/CHF added to gains yesterday and now the pair attempts to pair previous weekly losses. The continuation of the upward trend would allow traders to profit from targeting 0.9595 level, followed by next resistance levels at 0.9676 and 0.9733.

Traders' Sentiment
At the moment, the Swiss Franc is the least popular currency among its major counterparts. Therefore the sentiment of traders towards USD/CHF currency couple is strongly bullish, as 70% of market participants have entered the market with a buy trade and 30% of them have entered the market with a sell trade.
© Dukascopy Bank SA
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Actual Topics

Fri, 22 Jun 2012 15:38:54 GMT

The Euro modestly gained against JPY; targets 103.74

EUR/JPY attempts to advance further as it confidently inches towards 101.29 level. If bulls manage to hold the momentum, then after 101.29 level (R1 Weekly) is breached, 102.13 (Upper Bollinger band; R2 Weekly) and 103.74/53 (200-day ma; R1 Monthly) might become the next targets among bullish investors.

Fri, 22 Jun 2012 08:06:44 GMT

USD/JPY to advance to 80.78

USD/JPY continued the rally yesterday and now attempts to hit the initial resistance line at 80.78. Once this level is left behind, bulls might target 81.09 and 81.52. However, a short-term correction is possible before the currency couple continues advancement, thus 80.03 and 79.67 are likely to become starting points for this rally. A breach of 79.20 would signal the bearish mood returned in USD/JPY.

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