© Dukascopy Bank SA
- Credit Agricole SA (based on Bloomberg)
Pair's Outlook
Although according to a majority of the weekly and monthly technical indicators the Euro is going to outperform the Yen, the 20-day SMA still remains intact. Nevertheless, given the current conditions, the sell-off seems unlikely and the overall outlook should stay bullish. The closest support is at 146.43 (weekly PP), followed by the 23.6% Fibo retracement and monthly pivot point at 146.09 and 145.72, respectively.
Traders' Sentiment
Though there are relatively more short positions than 48 hours ago (there was an increase from 54 to 55%), the sentiment is rather neutral than bearish, being that the advantage over the long positions is not significant.
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