EUR/JPY bounced from 102.20

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Today's outcome suggests that the recession has remained muted up to the third quarter, but it will probably intensify going forward due to a larger drag from fiscal consolidation."
- UniCredit (based on The Wall Street Journal)  

Pair's Outlook
Pair dropped way below 103 JOY mark today, but unexpectedly was stopped by weekly pivot (S1) at 102.20. This bullish impetus helped pair to climb back and currently it is testing weekly pivot (PP) at 103.39. Stochastic indicators lets us believe that this rally should continue further  next stop being at 104 JPY.

Traders' Sentiment
Amount of bears increased mildly since yesterday, but remains rather stable slightly above 60% mark today. Amount of pending buy orders, however, increased by 4% and reached the highest level in last week—63% of all pending orders.

© Dukascopy Bank SA
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Actual Topics

Tue, 30 Oct 2012 16:07:22 GMT

AUD/USD returns above 100 bar SMA

After depreciating for a few days pair did not manage to fall below weekly pivot (PP) at 1.0327 and was pushed back above 100 bar SMA. At the moment it is testing monthly pivot (PP) at 1.0378, which might cause some minor troubles;, but not for long. Much harder task will arise once pair approaches  1.0419/21.

Tue, 30 Oct 2012 08:23:28 GMT

USD/CHF consolidates

USD/CHF pair loses its moving momentum and today the price has bounced down from a 93.61 level, also touching the 55-day SMA at 93.75. As the price eases its appreciation pace, we might expect some correction till near support levels around 0.9330, the 20-day SMA and weekly PP. After this the price might surge and check 0.94 level properly.

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