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- Barry Eichengreen, the University of California (based on Reuters)
Pair's Outlook
After yesterday's unsuccessful attempt to consolidate around the 139 level the pair fell lower to trade slightly above the 138.50 mark. However, it is likely that previously mentioned decline is just a bearish correction, before EUR/JPY forms yet another attack towards the major level. In the mean time, the technical indicators are neutral, thus a sideways trend from now on could take place as well. The key level for bullish traders remains the cluster of resistances above the 139 mark.
Traders' Sentiment
The sentiment remains unchanged, with 47% of the SWFX market participants expecting The Euro to underperform relative to the Japanese currency.
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