EUR/JPY nears full recovery after ‘Brexit' slump

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"This [headline inflation being on the rise] strongly suggests the ECB will have to extend QE at the current pace in December because at the end of the day the sustainability of the improvement toward the inflation target is approximated more by the core inflation rate."
– UniCredit SpA (based on Bloomberg) 

Pair's Outlook 
The EUR/JPY currency pair overperformed on Wednesday, having closed significantly higher than first anticipated. The rally was so strong that the immediate resistance around 121.00 gave in, opening the door for the given cross to reach the ‘Brexit' high of 122.06. Technical indicators also suggest the Euro is to appreciate again today, but the Bollinger band and the weekly R2 still provide relatively tough resistance on the way to the 122.06 level. Consequently, the single currency is expected to struggle today and is unlikely to climb over 122.00 just yet.

Traders' Sentiment 
Bulls are barely outnumbering the bears, as only 51% of all open positions are long today (previously 54%). At the same time, the share of buy orders improved over the day, having risen from 51 to 56%.
© Dukascopy Bank SA
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Actual Topics

Thu, 01 Dec 2016 15:03:21 GMT

AUD/USD sinks back in the swamp

Almost all AUD/USD pair's efforts to recover were in vain, as the Aussie slumped nearly 100 pips against the US counterpart yesterday, amid strong US fundamentals.

Thu, 01 Dec 2016 09:20:06 GMT

USD/JPY takes a breath after Wednesday's surge

Amid strong US fundamental figures on Wednesday, the American Dollar gained more than 200 pips against the Japanese Yen, thus, climbed over the 23.60% Fibo level, which caused the pair to exit its ascending channel pattern.

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