EUR/JPY soars above 99.01/17

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It is an interest rate cycle bet and subordinate to that I am not too enthused about the picture for the Japanese economy"
- John Hardy, Saxo Bank (based on Reuters)

Pair's Outlook
The currency pair has effortlessly pierced through a confluence of resistances at 99.01/17 after confronting an uptrend support line, but was stopped by 99.58, and is currently pulling back, implying lack of bullish impetus. The rally looks fragile also due to a strongly bearish signal by technical indicators for a weekly time frame, therefore a downside risk continues to increase.

Traders' Sentiment
Pairs sentiment became bearish as only 49% of traders have long positions on the pair at the moment (62% yesterday). Amount of pending buy orders decreased as well—it dropped to 70%; by 7% since yesterday.

© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 06 Sep 2012 14:59:44 GMT

AUD/USD eyes 1.0318/40

AUD/USD received a considerable bullish charge at 1.0194/73, the zone that is mainly reinforced by 100 day SMA, and has already overcome the nearest level at 1.0222, confirming potential to advance. Since no notable resistances are situated until 1.0318/40, the present rally may extend up to 200 day SMA, though is likely to be capped there.

Thu, 06 Sep 2012 08:15:29 GMT

USD/CHF erodes 0.9562/53

The U.S. Dollar has recently decelerated the pace of depreciation against the Swiss Franc ahead of an uptrend support, though this is not expected to be the case once 0.9562/53 is violated—the event that will pave the way for the pair to reach 0.9429/0.9398. There USD/CHF will have a significant chance to regain lost on July 29 bullish momentum.

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.