© Dukascopy Bank SA
- Trust Bank (based on Bloomberg)
Pair's Outlook
EUR/JPY has slipped lower once again, after it failed to consolidate above the 148 mark yesterday. However, the pair remains underpinned by the weekly PP at 147.11, which has been the main support through this week this far. Additionally, the vast majority of the technical studies remain strongly bullish, indicating that the pair has not given up its bullish intentions. Therefore, we expect the Euro to test the major level at 148 once again.
Traders' Sentiment
The amount of bearish traders has increased to 56% from 52% yesterday, thus it seems that the traders' are getting more confident of the pair being overbought. In the meantime, the share of sell orders skyrocketed from 38% to 77%.
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