EUR/JPY lost momentum ahead of monthly PP

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
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Pair's Outlook

EUR/JPY stalled after rallying from the 55-day SMA and hitting the monthly pivot point afterwards, meaning the bearish correction of the up-move started in November may drag on. However, given that the supports such as the monthly S1 and the 2009 highs remain intact, the risks are heavily skewed to the upside. Moreover, the weekly and monthly indicators are mostly giving ‘buy' signals.

Traders' Sentiment

While yesterday the market remained undecided with respect to EUR/JPY's prospects—the amounts of longs and short were perfectly equal, today there are slightly more bears (57%) than bulls (43%). As for the orders, the share of buy ones 100 pips from the spot price plummeted from 87% down to 54%.
© Dukascopy Bank SA
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Actual Topics

Thu, 16 Jan 2014 16:45:32 GMT

AUD/USD challenges August low

Although the Aussie has been recently showing bullish signs and willingness to rise, the possible recovery was not supported from a fundamental perspective, forcing the currency to nurture broad losses.

Thu, 16 Jan 2014 07:53:32 GMT

EUR/USD returns to up-trend

As expected, the support, created by the weekly PP and the 55-day SMA, proved to be unable to withstand the selling pressure, and the currency pair tripped to the long-term up-trend line.

Thu, 16 Jan 2014 07:53:23 GMT

GBP/USD fails to overcome 1.6449/43

The Cable is at the moment eroding a key support, which may entail a massive sell-off.

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