© Dukascopy Bank SA
- Canadian Imperial Bank of Commerce (based on Bloomberg)
Pair's Outlook
EUR/JPY is trading steadily around the weekly PP at 138.81, last week the pair almost touched the major level at 138. It seems that for now the pair will consolidate around the major level at 139. If this level is breached we might see an advance towards the 200-day SMA and weekly R1 at 139.45/48. At the same time pair's bears could push the pair lower towards the monthly S2 and weekly S1 at 138.38/31, these levels were approached past week.
Traders' Sentiment
The difference between the amounts of long (51%) and short (49%) positions remains negligible, meaning the sentiment is still neutral. The gap between the buy (60%) and sell (40%) orders placed 100 pips from the spot is slightly more significant.
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