EUR/JPY reiterates bullish reversal

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is concern for growth from China's perspective, so we've seen a little pop in risk. Everyone is looking for Germany to capitulate at some point and come around from its recalcitrant stance, but we have to be cautious before we see it actually happen."
- Royal Bank of Scotland Group Plc (based on Bloomberg)

Pair's Outlook

EUR/JPY bullish momentum added steam today as the Eurozone member states agreed to provide a 100B EUR financial support for Spain to preserve its banking system. In case bullish momentum holds ground, the pair is likely to test the 101.42 level (Initial resistance line) and the zone around 103.74/53 (55-day ma; R1 Monthly).

Traders' Sentiment
The traders' sentiment remains undecided as 54% of investors hold long positions whereas 46% o positions are short. Within the 100-pip range from the current market price, 60% of market participants expect the pair to continue moving upwards.
© Dukascopy Bank SA
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Actual Topics

Mon, 11 Jun 2012 19:04:35 GMT

USD/CAD bearish correction is hampered

USD/CAD inched lower today as the news that the Eurozone members will support the Spanish banking system has spread optimism among investors. Thus, the Canadian dollar appreciated against the greenback. If the bearish mood intensifies, 1.0174 (PP Monthly) is going to be the first support among bearish investors. A breakout here would expose 1.0088 (200-day ma) and 1.0009 (S1 Monthly; 100-day ma).

Mon, 11 Jun 2012 08:06:42 GMT

USD/CHF to bounce off 0.9512/0.9497

USD/CHF has effortlessly pierced through a support area at 0.9573/56 and is currently trying to erode 0.9512/0.9497, which should be able to withstand bearish pressure and reassure of an idea that present weakness of the pair is temporary and is a phase of a bearish correction before the price recommences recovery. Nonetheless, as long as a key support at 0.92340.9197

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