USD/JPY preserves bullish momentum

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The USD/JPY rally may gather pace during the final week of November as a slowing recovery in Japan undermines the Bank of Japan's pledge to achieve the 2 percent target for inflation by 2015."
- DailyFX (based on CNBC)

Pair's Outlook

After a brief reprieve last Friday USD/JPY resumed its rally—the price is already testing the resistance represented by the monthly R3 and the weekly R1. Once this obstacle is overcome, the currency pair should target the May high at 103.74/67. The weekly R2 that stands in-between these levels is highly unlikely to hold the bullish momentum for long.

Traders' Sentiment

Since the previous report published last Friday the share of bullish towards USD/JPY market participants has contracted by four percentage points, namely from 73% to 69%. Nevertheless, the difference between the proponents of a rally and the proponents of a dip remains vast.
© Dukascopy Bank SA
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Actual Topics

Mon, 25 Nov 2013 07:41:55 GMT

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While the U.S. Dollar has no trouble appreciating relative to the Yen, the Swiss Franc does not seem to be willing to underperform.

Mon, 25 Nov 2013 07:41:40 GMT

GBP/USD probes 1.6237

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