© Dukascopy Bank SA
- Rabobank International (based on Bloomberg)
Pair's Outlook
Last week EUR/JPY dropped below the weekly and monthly S1 at 136.23/135.81 reaching a new 2014 low at 135.72; however, the pair managed to reverse the losses the same day. At the very beginning of this trading week the Europe's shared currency slipped below the weekly PP at 136.86. The shorter term technical studies are pointing to the south, indicating that a decline is expected. To our mind the current retreat is likely to stop around the monthly S1 and major level at 136.23/00, near the down-trend line.
Traders' Sentiment
The sentiment has changed from bullish to bearish since the last time of writing, as 52% of the SWFX market participants expect the Euro to fall against the Japanese Yen.
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