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- Sireen Harajli at Mizuho Bank Ltd. (based on Bloomberg)
Pair's Outlook
The EUR/JPY respected Tuesdays' white candle and let the Euro to appreciate versus its counterpart. The pair hiked to the June 2014 low at 137.712, however, slipped below the weekly PP at 137.229. Meanwhile, the cross is being slightly oversold, yet, this weeks' upward move helped to correct the price. In case of a break higher, an immediate resistance level should be met at 138.104, the monthly S3.
Traders' Sentiment
The sentiment have not changed majorly and 54% of market participants see the pair higher. The indicators list shows a rather bullish outlook on weekly and monthly basis.
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