USD/JPY hit by heavy selling

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The yen caught a reprieve from extreme selling as a solid coat of red across global bourses spurred a round of safe-haven interest."
- Western Union Business Solutions (based on Reuters)

Pair's Outlook

Just before touching upon the resistance at 103.74/39 USD/JPY turned around and plunged back to 102.08. The upward-sloping support line there should remain intact for the near-term positive outlook to stay valid, otherwise the price may sharply drop down to the Sep high at 100.62. Meanwhile, the technical indicators on daily and monthly charts are strongly bullish.

Traders' Sentiment

Currently the distribution between the longs and shorts is 55% to 45%, meaning there is a slight advantage of proponents of a rally in the exchange rate at the moment. Concerning the orders set on USD/JPY, a substantial majority (76%) of them are to purchase the greenback against the Yen.
© Dukascopy Bank SA
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Actual Topics

Wed, 04 Dec 2013 08:13:47 GMT

USD/CHF stays bearish

As it turned out the rally started on Monday proved to be unsustainable and was quickly erased yesterday.

Wed, 04 Dec 2013 08:13:34 GMT

GBP/USD preserves bullish momentum

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