© Dukascopy Bank SA
- Mario Draghi (based on Bloomberg)
Pair's Outlook
Yesterday the Europe's shared currency posted a fourth straight daily loss against the Japanese Yen; however, today the pair easily can post the fifth as it is trading slightly above the 200-day SMA and July high at 139.35/30. The previously mentioned 200-day SMA together with July high and monthly R2 could possibly halt the current decline. Moreover, a distinct majority of technical indicators are also pointing upwards, thus fuelling the bullish expectations.
Traders' Sentiment
With the recent losses the trader's sentiment towards EUR/JPY has changed from bearish to bullish—at the moment 51% of the SWFX market participants are bullish. As for the orders, the amounts of buy (55%) and sell (45%) ones are nearly equal.
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