USD/JPY thrusts forward

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"With the U.S. dollar trading at elevated levels versus the commodity bloc and yen and mid-range versus the euro and our position indicator suggesting the market is now long USD again, risk reward does not appear attractive for USD longs coming out of the holiday."
- BNP Paribas (based on Reuters)

Pair's Outlook

Successfully using the up-trend support line at 101.26 as a springboard, USD/JPY was able to pierce through the 101.88/80, consisting of the monthly R3 and the weekly R1. Now, after a brief consolidation, the pair is expected to aim for the weekly R2 at 102.51. Then there will be only 120 pips separating the pair from the May high.

Traders' Sentiment

As a result of sharp gains made by USD/JPY, the gap between the amounts of long and short positions contracted. Still, the former (66%) remain in a distinct majority over the latter (34%). At the same time 78% of traders are planning to acquire the U.S. Dollar against the Yen.
© Dukascopy Bank SA
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Actual Topics

Thu, 28 Nov 2013 07:52:21 GMT

USD/CHF delays recovery

For the time being USD/CHF stays afloat above the monthly pivot point level, thereby preserving its chances to terminate the sell-off that was initiated after a spike up to 0.9248.

Thu, 28 Nov 2013 07:52:04 GMT

GBP/USD closes above 1.6237

Given that a key falling resistance line has been broken (it has been keeping the pair in the down-trend for more than four years), there is a good opportunity for GBP/USD to extend the gains.

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