EUR/JPY is still under bearish pressure

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There are major doubts over the euro zone and that makes the risk premium for some countries very high. That's why it would be a very good idea to deliver a clear message there's no going back for the euro."
- Mariano Rajoy, Prime Minister of Spain (based on CNBC)

Pair's Outlook
EUR/JPY opened with an upward gap today after the latest polls in Greece showed the pro-bailout parties are taking the lead. If the bearish momentum intensifies further, the initial support level at 98.88 (Initial support line; Lower Bollinger band) is likely to be targeted by the bearish investors. In case the level is breached, 97.73 (S2 Weekly) and 97.02 (January 2012 low) will be open for the downward movement.

Traders' Sentiment
The share of market participants holding long positionson EUR/JPY has slightly increased, up to 43%. At the same time the portion of short positions now constitutes 57% of the total amount of the trades.
© Dukascopy Bank SA
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Actual Topics

Mon, 28 May 2012 18:52:58 GMT

AUD/USD holds above 0.9705

Aussie appreciated against the US dollar as the risk of Grexit (Greece leaving Eurozone) slightly faded. The pair has been holding above the weekly pivot point at 0.9812, however it is likely that the pair could retrace further and if this is the case, it is likely to test the 0.9705 (lower support line) and the 0.9690/60 zone (S1 Weekly;

Mon, 28 May 2012 08:02:22 GMT

USD/CHF to recommence recovery from 0.9503/18

Despite a temporary weakness of USD/CHF, the pair still preserves its bullish potential. Upward momentum should be reignited once the price touches a support area at 0.9503/18, although we cannot rule out a deeper retracement, possibly down to 0.9466. The initial resistance, on the other hand, lies at 0.9659, guarding subsequent levels at 0.9756 and 0.9902.

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