EUR/JPY advances; pairs losses

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The market's expectation regarding further policy action globally is picking up."
- Morgan Stanley (based on Reuters)

Pair's Outlook

Bullish correction in EUR/JPY continues as the EU leaders discuss the creation of the banking union in Europe. In case bullish reversal accelerates, the initial resistance level is likely to be placed at 99.47 (R1 Weekly), followed by 101.42 (initial resistance line) and 103.74/53 (55-day ma; R1 monthly).

Traders' Sentiment
Traders' sentiment maintains bullish bias today on EUR/JPY with as the largest number of positions (71%) are being held by bullish traders. Within 100-pips range, the majority of currency traders expect the pair to continue further advancement (78%).
© Dukascopy Bank SA
© Dukascopy Bank SA
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Actual Topics

Wed, 06 Jun 2012 19:23:24 GMT

AUD/USD remains under negative pressure; attempts to stabilize

AUD/USD continued trading in a bullish trend as the Australian quarterly GDP data were higher than expected (1.3% act./0.5% est.). If the pair maintain bullish momentum, 0.9832 (R1 Weekly; Upper resistance line) will be the first target among bulls. A breakout of this level would expose further levels at 0.9900 (psychological level) and 1.0122 (100-day ma) accordingly.

Wed, 06 Jun 2012 08:06:32 GMT

USD/CHF is underpinned by 0.9553/42

The U.S. Dollar carries on depreciating against the Swissie following a failed attempt to surge above an accelerated uptrend resistance at 0.9730. USD/CHF has already penetrated a support at 0.9662 and is now crawling towards a tough area at 0.9553/42, near which the pair is likely to recommence gaining ground, since the long-term outlook remains bullish, aiming for parity.

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