EUR/JPY to stick to bearish impetus

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The current situation where yields on Spanish government debt are clearly unsustainable is starting to get to a point where policy action is clearly required."
- Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)

Pair's Outlook

The shared European currency dived against the Yen as the EU commission and Germany cannot agree over the direct bank landing to support Spain. This news strengthened bearish momentum, causing the pair to hit the daily forecast mean at 98.16, exposing 97.01 (January 2011 low) and 96.50 (Lower Bollinger band; S3 Monthly) for the bearish traders.

Traders' Sentiment
Bulls constitute 72% of the total amount of positions opened on EUR/JPY, whereas bears form a smaller part of the market, namely 26%. Within 100-pip range from the present market price, 74% of investors expect the pair to rebound from its record low levels.
© Dukascopy Bank SA
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Actual Topics

Thu, 31 May 2012 19:15:53 GMT

AUD/USD attempts to reiterate a bullish reversal

The Aussie dollar plummeted today against the US dollar on the release of preliminary quarterly GDP Price Index (1.7% act./1.5% est.). Therefore, if the pair moves downwards further, 0.9662 (November 2011 low; lower Bollinger band) and 0.9567 (S2 Weekly) are likely to in focus by the bearish traders. However, if the pair fails to fall, it could retrace to the weekly pivot point at 0.9812,

Thu, 31 May 2012 07:08:53 GMT

USD/CHF is approaching 0.9756

USD/CHF has just bounced off an accelerated uptrend resistance and is presently consolidating before attempting to violate resistance at 0.9756, which guards a subsequent level at 0.9902. In case the latter level does not halt the pair as well, a rally may extend up to 1.0065. From below the currency pair is supported by 0.9659 and 0.9535/14, limiting potential losses

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