© Dukascopy Bank SA
- Royal Bank of Scotland Group Plc (based on Bloomberg)
Pair's Outlook
The pair is trading above the weekly PP at 138.81 and is challenging the major level at 139. At the moment the Euro is trying gain bullish momentum and to reverse some of the losses from early May. Instead the daily technical indicators are largely giving ‘sell' signals; nonetheless, we still believe that the pair will appreciate. The next target for the common currency is the weekly R1 and 200-day SMA at 139.48/49, which could be approached any time now.
Traders' Sentiment
EUR/JPY buy and sell positions are completely identical at the moment. Bullish side of pending orders, however, contracted by 1% and is at 59-69% gauge today depending on the range.
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