EUR/JPY nears 137 mark

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"He (Abe) probably has no chance of postponing the tax increase. The stock market is very likely to fall if the hike is delayed because investors will take it as a sign Abe has no ability to push through fiscal reforms."
- Meiji Yasuda Life Insurance Co. (based on Bloomberg)


Pair's Outlook
The Euro continues to fall and at the moment it is sliding toward the major level at 137. Current trading levels are the lowest since the beginning of February; therefore, the pair's movements around the 137 mark should be watched carefully. If Europe's shared currency dips below the 137 level then most likely it will continue its decline towards the monthly S1 at 136.46. Although, if pair's bulls manage to hold the pair above the 137 mark, then a jump could follow.

Traders' Sentiment
Current decline is apparently discouraging some of the traders; as compared to the yesterday's readings, the share of long positions fell from 50% to 44%. At the same time the difference between the buy (54%) and sell (46%) orders is rather narrow.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.