USD/JPY: corrective setback

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Monetary policy is likely to need to remain accommodative for some time so that we can achieve full employment within a reasonable forecast horizon."
- Eric Rosengren, Boston Fed President (based on Bloomberg)

Pair's Outlook

Right now USD/JPY is undergoing a correction, but a combination of the 55, 100 and 200-day SMAs has a good chance of stopping the dip from developing any further. Moreover, there are strong demand areas at 98.15/97.82 (monthly PP) and 97.19 (up-trend support) in case the sell-off drags on. From the upside the currency pair is limited by 99.36/11.

Traders' Sentiment
Most of the traders believe the U.S. Dollar will continue outperforming the Japanese Yen—74% of them are currently holding long positions on the currency pair. As for the orders set on USD/JPY, 68% of them are to enter the market with a Dollar-buy trade.
© Dukascopy Bank SA
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Actual Topics

Tue, 05 Nov 2013 07:48:37 GMT

USD/CHF backs away from 0.9128/20

The market has confirmed the presence of a notable resistance zone around the June low at 0.9128, though this is highly unlikely to stop USD/CHF from advancing towards the next target at 0.9204/0.9186.

Tue, 05 Nov 2013 07:48:25 GMT

GBP/USD approaches 1.6013/1.5996

A shallow rally that has appeared after a test of the support at 1.5921 is about to encounter the resistance at 1.6013/1.5996, which in turn is followed by the monthly pivot point at 1.6066.

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