USD/JPY re-tests monthly pivot point

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Selling of sterling, Australian dollar and New Zealand dollar against the yen is helping prevent a further rise in dollar/yen. Profit-taking in such yen crosses is a key driver, rather than trades in dollar/yen itself."
- State Street (based on CNBC)

Pair's Outlook

Not without some difficulties, but USD/JPY managed to reach the resistance at 101.83/73. However, despite the monthly technical indicators giving ‘buy' signals, the pair may not advance further. The supply area the U.S. Dollar is facing is formed by the 55-day SMA, monthly PP and up-trend, making it unlikely for the currency to cross. Even if the price does rise, there will also be the 100 and 200-day SMAs respectively at 102 and 102.50 standing in the way.

Traders' Sentiment

A rally seen yesterday apparently encouraged some of the bulls to make a bet on further appreciation of the Buck—their share went from 70% to 74%. As for the orders, 59% are to buy and 41% are to sell the U.S. Dollar against the Yen.
© Dukascopy Bank SA
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Actual Topics

Fri, 25 Jul 2014 07:19:27 GMT

USD/CHF to preserve momentum

USD/CHF seems to be already taking a break in view of the coming weekend, as it is making no progress after setting foot above the resistance at 0.90.

Fri, 25 Jul 2014 07:24:46 GMT

GBP/USD fell to 55-day SMA

Although a breach of the resistance on Jun 30 represented by the 2009 high was considered to be a bullish sign, in the end the Sterling proved to be unable to sustain a rally.

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