USD/JPY draws near to 104.12/103.74

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Given that investors have piled up huge yen-selling and Japanese share-buying positions solely on hopes of Abenomics, there is risk of reversal in these positions should Abe lose popularity."
- JPMorgan Chase Bank (based on CNBC)

Pair's Outlook

USD/JPY continues to trade beneath the former accelerated up-trend support line, but nonetheless preserves strong upward momentum. Still, a test of the resistance at 104.12/103.74 may potentially result in a distinct bearish correction, considering there are no formidable supports nearby to underpin the currency pair in case of a persistent sell-off.

Traders' Sentiment

For now the distribution between the long and short positions remains stable—57% to 43% respectively, meaning the market is largely undecided at the moment regarding the future direction of USD/JPY. As for the orders, an absolute majority (84%) of them are to acquire the U.S. Dollar.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 10 Dec 2013 07:54:36 GMT

USD/CHF inclined to fall deeper

Now, given that one of the important supports gave in, namely the one at 0.8930, there is a good chance USD/CHF will descend through the nearest supports down to 0.8780/53.

Tue, 10 Dec 2013 07:54:20 GMT

GBP/USD closes above 1.6415/1.6355

After many days of struggle GBP/USD has finally breached the resistance represented by the January high.

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.