USD/JPY is poised for additional gains

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The G-20 and the [Bank of Japan] have made it very clear to the financial community that Japan has the green light regarding continued [quantitative easing] and resulting [yen] weakness."
- Chapdelaine Foreign Exchange (based on MarketWatch)

Pair's Outlook

Even though we lack bullish signals provided by the technical studies, especially for the near term, a recent confirmation of the up-trend support line creates a bullish bias towards the currency pair. At the moment the price is closing the bullish gap, but should soon continue the rally begun last week. If the dip drags on, supports at 98.73/49 and 97.81/11 are to prevent further extension.

Traders' Sentiment
The portion of bullish market participants has declined, but insufficiently to change the overall bullish towards USD/JPY sentiments, since a substantial majority (73%) of positions are still long. At the same time the percentage of buy orders has increased up to 73% from 68% last week.
© Dukascopy Bank SA
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Actual Topics

Mon, 22 Apr 2013 07:05:09 GMT

USD/CHF's near-term risk is to the downside

"Switzerland is in a difficult situation. Our exchange rate policy hasn't been criticized or questioned by other countries in the past days here in Washington."- SNB President (based on Bloomberg)Pair's OutlookIn April the 55-day SMA crossed the 200-day indicator, and now there is an increased possibility of another bullish cross, as the 100-day SMA is closing in on the longer-term

Mon, 22 Apr 2013 07:04:55 GMT

GBP/USD is directionless

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