© Dukascopy Bank SA
- BNP Paribas SA (based on Bloomberg)
Pair's Outlook
Since the last time of writing the pair has surpassed both the 55 and 100-day SMAs and the 50% Fibo level, meaning that the pair might be poised for a further gains. At the same time EUR/JPY is climbing very close the major level at 138, which also is a very significant resistance level that sent the pair on a decline at the beginning of the month. Therefore, we expect the Europe's shared currency to challenge the 138 mark in the short-term.
Traders' Sentiment
With the pair climbing higher some of the traders' have taken profits or they have opened new short positions, as the sentiment towards the pair has decreased to 51% from 58% on Friday. As for the orders, the amounts of buy (53%) and sell (47%) are nearly equal.
© Dukascopy Bank SA