© Dukascopy Bank SA
- Landesbank Baden-Wuerttemberg (based on Bloomberg)
Pair's Outlook
In general, this week has been positive for EUR/JPY bulls, as most likely the pair will post a second straight weekly gain. However, today the pair tested the 141 level, by doing that it proved that it is not ready to trade around these levels as it dropped below the 140 mark afterwards. Nonetheless, the pair's technical studies remain bullish, with the weekly and monthly ones pointing to the north. Therefore, we might expect a rebound above the major level at 140.
Traders' Sentiment
Almost through all this week the sentiment has been unchanged, with 53% of the SWFX market participants thinking that the pair is overvalued. However, the gap between the buy (73%) and sell (27%) orders placed 100 pips from the spot is much more significant.
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