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Pair's Outlook
Today EUR/JPY breached the monthly PP at 141.70 and headed towards the major level at 142; however, when the level was reached a decline followed. It might prove that the pair is not ready to trade around 142 yet; although, we expect the pair to break the level ultimately. In our opinion pair's appreciation is well supported by 55 and 100-day SMAs; moreover, the weekly and monthly technical indicators also are bullish.
Traders' Sentiment
At the moment of writing 54% of the SWFX market participants are expecting the single European currency to lose value against the Japanese Yen.
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