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- Alexander Stubb, Finnish Prime Minister (based on Bloomberg)
Pair's Outlook
The EUR/JPY tumbled about 200 pips lower from the previous day close and 136.983, forming a daily low at 134.541. During the day, the cross managed to appreciate and hit the weekly PP at 137.229, however, failed to hold that level. In case of a move lower, the next support level should be found at the weekly S1 at 133.571. Meanwhile, the 100– and 200– day SMA's are holding neutral position.
Traders' Sentiment
Traders continue to hold their long positions despite the recent Euro weakness, respectively, 54% of the case is on the long side. The pending orders, however, are generally bearish. The 50– pip orders are set to be short for 67% of traders and 74% of all are shorting the pair in a 100– pip range.
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