EUR/JPY is not in a hurry to leave 132.20/09

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Back in 2005-2007, only the yen had exceptionally low interest rates, making it a funding currency of choice. But now there are other currencies that have low rates, so funding is likely to be more spread out among those currencies."
- JPMorgan Chase Bank (based on CNBC)

Pair's Outlook

The latest rally of EUR/JPY still lacks consistency, but the support at 132.20/09 nonetheless remains intact. This means the bias towards the currency pair should stay positive, a scenario also supported by the daily and monthly studies. Moreover, the upside is free from any notable levels nearby, with the first significant sell area starting only at 133.42.

Traders' Sentiment
The tendency we mentioned yesterday, namely weakening interest in Euro-buying (36% in all crosses) and growing attractiveness of the Japanese Yen (44% in all crosses), continues. At the moment of writing 42% of positions in EUR/JPY are long, while the majority, specifically 58%, belongs to bears.
© Dukascopy Bank SA
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Actual Topics

Wed, 18 Sep 2013 14:37:34 GMT

AUD/USD fails to overcome 0.9379

Daily ‘buy' signals have already started to weaken, implying that the nearest resistances have a good chance preventing AUD/USD from climbing any higher.

Wed, 18 Sep 2013 08:24:44 GMT

EUR/USD holds accelerated uptrend

Pair maintains it's bullishness and stays in the accelerated uptrend after a bounce from the 50% retracement of July to August move.

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