© Image watermark
- Cairn Capital Ltd (based on Bloomberg)
Pair's Outlook
The EUR/JPY started the new week by slipping lower from the last weeks' close at 136.076. However, managed to rebound later and gain momentum, recovering about 125 pips. The nearest resistance level is situated at the weekly PP at 137.229. With the pair being in an oversold condition, a consolidation is something that the market waited for. Meanwhile, the 55– and 200– day SMA's are declining, whereas the 100– day one is neutral at the current moment.
Traders' Sentiment
More traders are willing to buys the par in a 50– pip range since 60% of opened positions are long. The 100– pip ones are placed to be long for almost the same amount of traders, 57%.
© Image watermark