© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
EUR/JPY has prolonged its yesterday's decline, with a drop below the weekly PP at 148.63. Interestingly, a distinct majority of technical indicators are being bullish in all time frames; although, the pair is going in other direction. It seems that the pair was not ready and still is not ready to break the psychological level at 150; although, for now it still remains the target level. In the near-term a retreat below the 148 mark seems realistic.
Traders' Sentiment
Market sentiment remains almost unchanged as bears hold 55% of all of the open positions on the pair. The gap between the buy (52%) and sell (48%) orders placed 100 pips from the spot is also insignificant for now.
© Dukascopy Bank SA