EUR/JPY stuck between 101.449 and 101.560

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
"It is just a matter of time before Spain applies for financing in the coming weeks and that will be euro positive."
-SEB (based on Khaleej Times) 

Pair's Outlook
Pair bounced from uptrend resistance (connects July 27th high and 7th of September high) at 1.0149, but did not mange to advance above 200 bar SMA at 102.155 and is currently at Fibonacci (23.6% of move since 24th of September) at 101.560. Technical indicators suggest that pair will appreciate in the near future which is believable due to traders sentiment on the pair. However, advance is likely to be choppy due to quite a few significant support levels up to 102.5.

Traders' Sentiment
Japanese yen is currently the most sold currency across the board (75% of all cases). After bulls kept loosing ground for three days in a row, market sentiment is in perfect equilibrium between the bulls and the bears today. However, the same as yesterday, 69% of pending orders are buy orders, suggesting that we might see a major shift in traders sentiment in the near future.

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Actual Topics

Fri, 21 Sep 2012 15:22:47 GMT

AUD/USD testing 1.0494/0500

Pair bounced from Fibonacci (38.2% of move since 6th of September) at 1.0446, but after sharp gains is stuck at 1.0494/0500.  Technical indicators point at appreciation of the pair, however it is likely the pair has already reached oversold condition and we might see a strong push down from any indicated resistance levels above the current market price.

Fri, 21 Sep 2012 08:19:10 GMT

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