© Dukascopy Bank SA
- Sumitomo Mitsui Trust Bank (based on Bloomberg)
Pair's Outlook
The EUR/JPY cross continues its slump, as the pair has plummeted below the major level at 135 today. The pair dropped almost 200 pips and even though it managed to recover approximately half of it, the pair is still driven by a bearish momentum. For now the weekly S1 at 134.85 is holding the bears back; however, the support does not seem very substantial. If the pair dips below the mark then the down-trend most likely will be extended towards the 135 mark.
Traders' Sentiment
The traders' sentiment has increased slightly since yesterday, as of now 53% of market participants are bullish on the pair. Concerning the buy and sell commands placed, the amount of sell orders set has increased to 73%.
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