EUR/JPY posses for further rally

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"If Germany doesn't accept that the ECB must be a real central bank, if interest rates don't come down, we will be forced to leave the euro and return to our own currency in order to be competitive."
- Silvio Berlusconi (based on The Telegraph)

Pair's Outlook
Pair has been appreciating ever since it hit 110 JPY and at the moment it is testing monthly R2 at 112.36. Pair has had a very impressive rally for quite some time now and it raises a lot of suspicions that pair is way in the overbought area and the only questions is how long till bearish correction. Especially taking in to account that it breached yearly high at 111.42 very easily and the Stochastic and the RSI indicators send sell signals for quite some time now. 

Traders' Sentiment
Bearishness might be starting to leave market slowly as amount of short traders in the market decreased by 6% and is at 58% mark today. In addition to this, amount of pending buy orders increased by 9% and account for 80% of all pending order.

© Dukascopy Bank SA
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Actual Topics

Wed, 19 Dec 2012 16:14:51 GMT

AUD/USD supported at 1.0487

Earlier in the session pair tried to recover some of its yesterdays losses, but received yet another bearish impetus from 1.0533 and at the moment it is supported by 20-day SMA/weekly S1 at 1.0486/81. It seems it is enough for the time being, but we might be up for a major dip as there are not much major support levels

Wed, 19 Dec 2012 09:10:58 GMT

USD/CHF quickly depreciates

USD/CHF pair experiences a heavy depreciation, as the price decreased to the lowest level since May, 2012. The exchange rate moves along the lower Bollinger line towards the weekly S1 at 0.9101 and the monthly S2 at 0.9079. Looking from a wider perspective in the weekly graph the lower Bollinger line is at 90.70, which will be a strong resistance

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