EUR/JPY Slight correlation expected, near-term focus on 95.72/86

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The euro-zone sovereign debt crisis will remain in focus for financial markets trading direction this week with Spain and Greece as the hot spots in Europe ."
- United Overseas Bank (based on MDeutsche Borse Group).

Pair's Outlook
EUR/JPY is hitting its eleven-year low, and currently is trading around 94.58 after re-emergence of Greek exit talks and turmoil in Spanish banking sector today. A slide towards the 90.00 psychological level will strongly be detained by the lower Bollinger band at 93.60. A small correction is expected by the largest market participants to 65.72/86 with a further slide afterwards.

Traders' Sentiment
In near-term, the vast majority of traders believe in pair's augmentation and have opened long positions. Despite the depressive downtrend, 73% of traders expect the pair to recover in mid-term, amid 27% still awaiting further slide.

© Dukascopy Bank SA
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Actual Topics

Mon, 23 Jul 2012 15:40:05 GMT

USD/CAD Minor downward correction expected after a 3-day rally

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Mon, 23 Jul 2012 07:51:50 GMT

USD/CHF to keep on advancing

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