USD/JPY extends rally

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The dollar is looking softer across the board. Yellen signaled that, while the Fed will continue tapering, they are not in a hurry to raise rates, and that was seen by the market as dovish."
- Barclays (based on Bloomberg)

Pair's Outlook

USD/JPY develops its success—it has already breached the 100-day SMA and is presently probing the resistance at 103.53/34, which mainly consists of the weekly R1 and 23.6% Fibonacci retracement level. Once this supply area gives in, it will pave the way towards the 2013 highs at 104. If after encountering this obstacle the pair retains an upward momentum, it could challenge this year's high at 105.43.

Traders' Sentiment

The distribution between the long (75%) and short (25%) positions stays perfectly unchanged, even though USD/JPY is not stationary and continues moving north. Concerning the orders placed on the pair, the difference between the amounts of buy and sell ones is minimal.
© Dukascopy Bank SA
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Actual Topics

Tue, 01 Apr 2014 06:40:02 GMT

USD/CHF steps back

Being intimidated by the tough resistance near 0.89, USD/CHF took a U-turn and plummeted through the weekly PP at 0.8851.

Tue, 01 Apr 2014 06:40:45 GMT

EUR/USD forces its way through 1.3777

Despite the near-term technical indicators opposing a rally, the Euro is gaining ground after it found support in the face of the 55 and 100-day SMAs.

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