EUR/JPY advances to 106.5

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The current structure of the foreign exchange market suggests the yen's recent retreat will intensify." 
- Morgan Stanley (based on The Financial Times) 

Pair's Outlook
After mildly negative day yesterday pair picked up pace up again and it testing the limits of Bollinger band at 106.6. Although we are seeing aggregate neutral reading from technical indicators, Stochastic indicator suggests we should see a bearish correction in the near future.

Traders' Sentiment
Short traders have gained more ground and at the moment constitute for 60% of all market participants. Distribution of pending orders point at completely the opposite—60% of all pending orders on the pair are to go long.

© Dukascopy Bank SA
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Actual Topics

Fri, 23 Nov 2012 15:48:09 GMT

AUD/USD rockets to 1.042

Pair managed to advance more than 60 pips after receiving a bullish impetus from 55 and 100-day SMA. it seems pair is building up momentum and we are likely to see it testing the boundaries of Bollinger band in the near future.

Fri, 23 Nov 2012 08:50:55 GMT

GBP/USD peaked at 1.5978

GBP/USD pair's exchange rate was pushed up to a six-week high at 1.5978 yesterday, however, the price lost its upside impetus in the second part of a trading session, and the price fluctuated in a down-sloping channel, reaching a 1.5925 level. Currently, the exchange rate increases and it is very likely that it will reach 1.5985, the Fibo 261%, from

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