EUR/JPY recovered after testing 100.24; might approach 101.50

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The market seems to be buying what came out of the EU summit. Before we go back to a trend of selling the euro we may have a bit of consolidation and perhaps some short covering."
- SEB (based on CNBC)

Pair's Outlook

The common European currency moved higher versus the greenback as the pair attempts to maintain bullish impetus. In case it holds further, 101.50 (Upper Bollinger band) is going to be the first target for bulls. Once this level is successfully pierced, 102.17 (R1 Weekly) and 103.31 (200-day SMA; R2 Weekly) will be exposed.

Traders' Sentiment
Traders' sentiment is bullish on EUR/JPY. 74% of market participants are currently holding long positions and 26% of them are staying short on the currency pair. Within 100-pip range, the bullish sentiment weakens as only 52% of investors are anticipating the pair to augment further.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 03 Jul 2012 15:52:53 GMT

AUD/USD keeps upbeat mood and might reach 1.0347 if it holds

AUD/USD sustains positive tendency as the pair is approaching 200-day SMA. If eventually a breakout here emerges, bulls are likely to continue advancement and 1.0347 (R1 Weekly) might become an initial resistance level for bullish investors. A breakout here would expose 1.0464 (R1 Monthly) and 1.0574 (23.60% Fibo), respectively.

Tue, 03 Jul 2012 07:34:22 GMT

USD/CHF to overcome 0.9544/61

The exchange rate has already reached an initial resistance at 0.9544/0.9561 thus reinforcing our view USD/CHF is well-placed for further gains. Once 0.9544/61 is eroded, subsequent level at 0.9625, which in turn guards 0.9665 and 0.9701, will be targeted next. Dips in the meantime should be limited by 0.9497/81 and 0.9433/10.

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.