EUR/JPY outlook remains negative

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The eventual bias is skewed downwards, as the recent market rally had priced in plenty of expectations for easing actions from both the U.S. and Europe, and further economic stimulus measures from China." 
-Ben Kwong, KGI Asia (based on The Wall Street Journal)

Pair's Outlook

Pair has depreciated after the trading brake during the weekend. The pair should remain between 98.640 (Bollinger band) and 97.675 (55 day SMA) as pair is approaching Double Bottom pattern's, which it formed last week, resistance band.
 

Traders' Sentiment

Traders' sentiment remains bullish. It hasn't changed since the end of the last week and remains at the 62% mark. During the weekend distribution of pending orders hasn't changed as well – 64% of traders have posted long orders in the range of 100 pips from the current price.

© Dukascopy Bank SA
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Mon, 20 Aug 2012 15:31:22 GMT

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