EUR/JPY commences moving south; might move towards 95.60

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"This is the season when 'no news' isn't necessarily 'good news.' Spanish bond yields are going up because very limited selling is meeting a total dearth of buyers. The euro is edging lower in sympathy."
- Societe Generale (based on MarketWatch)

Pair's Outlook

The shared European currency fell against the Japanese Yen and currently the pair is approaching an initial support level at 96.21 (Upper support line; S1 Weekly). However, if bearish momentum strengthens and the first support line is going to be breached, 95.60 (June 1 Low) and 95.11 (S2 Weekly) are likely to be next.

Traders' Sentiment
Traders' sentiment remains bullish on EUR/JPY today, though it slightly weakened compared to yesterday as 71% (74% yesterday) of market participants are presently long on the currency pair and 29% of traders still expect the pair to decline further. The allocation of long and short positions points at a weakening bullish sentiment as 54% of investors expect the pair to advance over the middle term.
© Dukascopy Bank SA
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Actual Topics

Fri, 20 Jul 2012 16:05:47 GMT

AUD/USD is trading around 1.4000; bears might come into play

The Aussie dollar is moving higher against the US dollar and at the moment the pair is floating around 38.20% Fibo level at 1.0400. In case bullish momentum strengthens further, investors might encounter the second and third resistance levels at 1.0490 (R3 Weekly) and 1.0574 (23.60% Fibo), respectively.

Fri, 20 Jul 2012 07:45:46 GMT

USD/CHF to pierce 0.9805

Following a pullback down to 0.9737, USD/CHF started to gain bullish momentum, signalling termination of a bearish correction and beginning of another leg up. At the moment the pair is struggling at 0.9805, strength of which should be already exhausted, therefore resistances at 0.9873/0.9906 and 0.9940/47 may soon be challenged.

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