USD/JPY to trade flat

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"With U.S. dollar/yen comfortably far enough away from intervention levels, this pair ‘should' continue provide the most predictable response, i.e., weak data should help U.S. dollar/Japanese yen lower and vice versa"
- RBC Capital (based on MarketWatch)

Pair's Outlook
USD/JPY remains calm despite other currency pairs being under considerable stress. The pair has formed a base above 79.84 and is likely to preserve its from neutral to bullish outlook, as a key support at 79.61/34 managed to withstand the pressure and approve its significance to the market. Resistances to be targeted in future are at 80.53/59 and 81.04/28.

Traders' Sentiment
Since the Japanese Yen is the least preferred currency in the market, being bought in 27% of cases in general, traders' sentiment is bullish to a large extent, namely 73%, towards USD/JPY, as they expect the Asian currency to continue depreciating. The similar advantage have buy orders over sell orders, being that their portion is 74% compared to a 26% share of the counterparts.

© Dukascopy Bank SA
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Actual Topics

Fri, 06 Jul 2012 07:38:28 GMT

USD/CHF is bullish

USD/CHF has rallied steeply, effortlessly piercing through levels at 0.9628 and 0.9692/0.9703, which in turn proved to be unable to stop the U.S. Dollar from appreciating relative to the Swiss Franc. Subsequent resistances at 0.9761 and 0.9844 should be harder to overcome, but are not viewed as capable of containing the pair for a prolonged period of time.

Fri, 06 Jul 2012 07:19:39 GMT

GBP/USD consolidates below 1.5536

The Cable has stalled just after penetrating 1.5536, but is capable of resuming bearish behaviour, being that in general technical studies point to the downside. An interim support currently lies at 1.5484, while the last resort en route to 1.5254 is situated at 1.5395/89. Resistances in the meantime may be found at 1.5583/1.5625 and 1.5698/1.5732, limiting possible near-term rallies.

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