USD/JPY is traded around an upper boundary

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is further potential upside for dollar-yen, particularly with the election getting close and with all the talk about wanting the BOJ to be a lot more proactive"
- Australia & New Zealand Banking Group Ltd. (based on Bloomberg)

Pair's Outlook
USD/JPY pair continues to move inside a triangle pattern, as the price made a third high on the upper boundary at 82.44, suggesting to open a short position. But on the other hand, technical indicators return in a neutral zone, while the price is traded in a flat corridor. Therefore, it is very likely to see an extension of the upside trend.

Traders' Sentiment
Yen's consolidation increases expectations to see USD/JPY depreciation soon, as bearish sentiments improve their market share: the buy side has 64% and the sell side has 36%. Placed orders market heavily supports a Yen's depreciation, as 87% placed orders are buy and 13% are sell.

© Dukascopy Bank SA
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Actual Topics

Fri, 07 Dec 2012 09:14:52 GMT

USD/CHF surges from an up-trend line

As USD/JPY pair ended a consolidation in a 0.9246/66 range, the price surges and has already reached the monthly PP and the 55-day SMA at 0.9349. The next resistance is the 100-day SMA at 0.9408 and after that the upper Bollinger band at 0.9461. However, currently the price is traded around the 20-day SMA, which indicates a middle of the

Fri, 07 Dec 2012 09:14:42 GMT

GBP/USD edges lower

After few attempts to breach the weekly R2 level at 1.6115, GBP/USD pair slipped lower and currently moves towards a target support at 1.6015/1.6003. This level is important, as it the point of intersection of weekly and monthly PPs with the 55-day and 100-day SMAs.

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