© Dukascopy Bank SA
- Danske Bank A/S (based on Bloomberg)
Pair's Outlook
EUR/JPY has received a bullish impetus from the weekly and monthly PP at 141.75/80, thus pair's value has been pushed above the major level at 142. The common currency is climbing towards the weekly R1 at 142.50; however, if the pair falls below 142 once again then that might wake up the pair's bears. The technical indicators are largely bullish and that together with 20 and 55-day SMAs could support the pair from dropping significantly.
Traders' Sentiment
Even though the gap between the bullish and bearish market participants widened, it still remains rather small—43% are long and 57% are short. In the meantime, the share of sell orders grew from 48% up to 53%.
© Dukascopy Bank SA