EUR/JPY to remain under negative pressure

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"For now, the risk currencies remain very much under pressure because the last hope of the bulls was the U.S. economy and it is showing signs of slowdown just like the rest of the world."
- GFT (based on Reuters)

Pair's Outlook

The Euro dived against the Japanese yen today, reaching an all-time low as concerns over Spain and Greece intensify. Therefore, bearish traders should closely watch the initial support level at 97.01 (January 2011 low), while a breach here would pave the way to 96.50 (Lower Bollinger band; S3 Monthly) and 96.11 (S2 Weekly).

Traders' Sentiment
Traders' sentiment is bearish on EUR/JPY. 61% of market participants are currently holding short positions and 39% of them are staying long on the currency pair. Within 100-pip range, the bearish sentiment eases as only 53%  of investors are anticipating the pair to deteriorate further.
© Dukascopy Bank SA
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Actual Topics

Fri, 01 Jun 2012 20:32:09 GMT

AUD/USD stabilizes, attempts to start a bullish reversal

AUD/USD traded flat today as the latest US data showed the US labour market is still weak (8.2% act./8.1% est. unemployment rate). If the pair fails to fall further, it could retrace to 0.9662 (November 2011 low; lower Bollinger band), a breakout of which would expose 0.9567 (S2 Weekly) and 0.9445 (Lower support level; 23.60% Fibo).

Fri, 01 Jun 2012 08:14:39 GMT

USD/CHF to trade flat near 0.9756

Bullish inertia of USD/CHF seems to be waning ahead of 0.9756, suggesting an increased possibility of a tepid bearish correction before the currency couple resumes growth. The pullback may result in a dip down to 0.9659, although we cannot rule out a deeper retracement to 0.9535/0.9497, since the recent rally is overextended and requires a brief pause.

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