EUR/JPY is trading lower, attempts to slide to 99.06

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"While expectations regarding the forthcoming summit are probably low based on previous experience, risks suggest a disappointing outcome. Consequently, this week's meeting is likely to reinforce negative pressure on the common currency."
- SEB (based on MarketWatch)

Pair's Outlook

The common European currency continues moving South amid uncertainty over the Eurozone prospects and its ability to address the debt turmoil. In case of a bullish reversal, 101.64 (55-day SMA) is likely to become an initial resistance line; once breached, a path towards 102.15 (R1 Weekly; Upper Bollinger band) and 104.55/65 (100-day SMA; R3 Weekly) will be open.

Traders' Sentiment
At the moment, the traders' sentiment on EUR/JPY remains bullish as 64% of investors hold long positions while 36% of traders are short on the currency pair. Within 100 points from the market price, 73% of market participants expect the Euro to deteriorate against the Japanese Yen.
© Dukascopy Bank SA
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Actual Topics

Tue, 26 Jun 2012 15:20:23 GMT

Aussie slumps against the US dollar on Eurozone concerns

AUD/USD didn't move much compared to yesterday as the pair is floating near the 55-da simple moving average. However, if bearish mood intensifies, 0.9955 (S1 Weekly) will be the first target among bears. A breakout here would expose next support lines at 0.9826 (23.60% Fibo) and 0.9740 (Lower Bollinger band; S3 Weekly), respectively.

Tue, 26 Jun 2012 08:15:42 GMT

USD/CHF is gaining bullish momentum

USD/CHF struggles at 0.9600, but nevertheless appears to be able to climb over it and then aim for higher levels, which are located at 0.9639/58 and at 0.9699. Bullish advancement, however, may be postponed, since short-term technical studies point to the downside, even though long-term outlook remains positive. Supports at 0.9552/31 and at 0.9503/0.9497 should limit dips.

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