EUR/JPY experiences slight bullish correction

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
 "It looks as though Greece wants to pursue a buyback at some point between now and Dec. 13. We don't quite know how much that's going to contribute and it looks as though the IMF is saying part of the deal is contingent upon the success of that buyback." 
- National Bank of Australia Ltd. (based on Bloomberg Businesweek)

Pair's Outlook
Today the EUR/JPY currency couple experienced a slight bullish correction, however it is not expected to stop the downtrend, which started yesterday. As for now, the price is gradually heading towards the monthly R2 at 107.43, but if it is breached, then the currency pair might face the upper Bollinger band at 108.30, which is expected to reverse the uptrend. Moreover, the overall indicator outlook remains neutral, therefore no significant tendency changes are expected in the upcoming week.

Traders' Sentiment
SWFX market participants have mixed feelings regarding the EUR/JPY currency couple, since 51% of traders hold long positions and 49% hold short positions. As for orders, the situation shows slight downtrend expectations, as 38% ordered to buy and almost 62% ordered to sell the single European currency.

© Dukascopy Bank SA
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Actual Topics

Tue, 27 Nov 2012 16:10:31 GMT

AUD/USD rebounds from 1.0479

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Tue, 27 Nov 2012 13:19:03 GMT

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