EUR/JPY testing 103

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There seems to be pressure piling on the Bank of Japan to take action later this month. People are expecting more stimulus from the BOJ."
- Sumitomo Mitsui Trust Bank (based on Reuters)

Pair's Outlook

Pair is appreciating rather rapidly after receiving a bullish impetus from Fibonacci retracement (61.8% of 5th to 17th of September move) at 101.161. Currently it is aiming to breach major level at 103 JPY. Advancement, at least long lived, of the pair above this level is highly unlikely and pair should be pushed back to 101.5 JPY area by already mentioned major resistance level.

Traders' Sentiment
SWFX traders' sentiment is in perfect equilibrium between bears and bulls suggesting that uncertainty about pairs future is creeping on to the market. Distribution of pending orders is slightly in favour for the bulls as 57% of pending orders on the pair are to go long.

© Dukascopy Bank SA
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Actual Topics

Tue, 16 Oct 2012 15:13:00 GMT

AUD/USD aiming at 1.03

Pair is sweating to breach cluster of resistance levels around 1.03. Although it would seem pair might have enough momentum to do so, but recent developments raise a lot of doubts and scenario where pair remains at 0.92-0.93 range seems much more likely.

Tue, 16 Oct 2012 06:50:40 GMT

USD/CHF stays flat

USD/CHF pair has stuck in a flat zone with the lower support level at around 0.9290 and the upper line at 0.9428/34, where 200-day SMA lies. Negative performance might be expected, as weekly graph shows that price has settled below the uptrend line, which starts since 31st October, 2011. This big timeframe pattern is supported by the majority of daily

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