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- Kazumasa Iwata (based on Bloomberg)
Pair's Outlook
EUR/JPY is trading around the major level at 140, after posting gains last week, when the pair touched the 141 level. The Euro seems supported around current levels, with the daily PP at 139.87 and previously mentioned major level at 140. Also, the majority of the technical studies point to the north. Therefore, we are bullish on the pair and expect that the monthly R3 at 140.30 will be approached in the nearest trading days.
Traders' Sentiment
The difference between the amounts of long and short positions open on EUR/JPY has narrowed even more since the previous report, as of now 51% of the traders are bearish. Meanwhile, the share of sell orders jumped from 22% up to 56%.
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