© Dukascopy Bank SA
- Royal Bank of Scotland Group Plc (based on Bloomberg)
Pair's Outlook
This week the pair dropped from the 139 to around 138; however, now it has slightly reversed this decline. We expect that the monthly S2 at 138.38 will push the currency pair higher towards the next target at 138.81. However, at the same time the daily technical indicators are more to the downside and the weekly are neutral; therefore, some slight appreciation or sideway movement could be expected.
Traders' Sentiment
The sentiment towards EUR/JPY has not changed since yesterday, the pair's bulls are still in minority at 48%. The gap between the buy (52%) and sell (48%) orders placed 100 pips from the spot is also insignificant for now.
© Dukascopy Bank SA