USD/JPY eyes 102.20

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The BOJ is still more inclined for easing. If global risk appetite and the global economy continue to improve, the risk is that the yen will weaken."
- St. George Bank (based on Bloomberg)

Pair's Outlook

If the recently broken 200-day SMA proves to be a new reliable support, the currency pair may soon launch an attack on a combination of the 55 and 100-day SMAs near 102.20. Should this resistance give in to the buying pressure, USD/JPY could attempt to revisit April's high at 104.12, above which lies this year's peak at 105.44. However, the daily and weekly technical indicators do not support this scenario for now, unlike the monthly studies.

Traders' Sentiment

There are relatively less long positions open in the SWFX market on USD/JPY than yesterday, but in general the traders appear to be strongly convinced in bullishness of the greenback—70% of them expect it to appreciate against the Yen.
© Dukascopy Bank SA
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Actual Topics

Tue, 27 May 2014 07:36:07 GMT

USD/CHF underpinned by 0.8946/42

While the beginning of this weeks does not look promising, the 200-day SMA, together with the weekly PP, should act as a support level and prevent further depreciation of the U.S. Dollar.

Tue, 27 May 2014 06:46:41 GMT

GBP/USD challenges weekly PP

The Cable is currently eroding the supply area at 1.6855/51, a breach of which will pave the way towards a major level at 1.70.

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