Note: This section contains information in English only."The BOJ delivered the bare minimum in terms of what investors have been expecting."
- Credit Agricole SA (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]The European single currency plunged against the Japanese Yen on Friday, which in turn strengthened on the BoJ's disappointing statement.[/ANNOUNCE] The second support area was also pierced that day, causing the EUR/JPY cross to drop to the 114.00 psychological level. Technical indicators today are giving bearish signals, suggesting that a correction is unlikely to take place. Moreover, the pair faces a relatively strong resistance area around 114.75, namely the 20-day SMA, the weekly and the monthly PPs. This cluster is expected to trigger another Euro sell-off, causing the exchange rate to breach the 114.00 psychological level.
Traders' Sentiment
Today 69% of all open positions are long, compared to 64% previously. Meanwhile, the portion of sell orders returned to last Thursday's level of 58%, up from 40% on Friday.
Mon, 01 Aug 2016 12:54:31 GMT
Source: Dukascopy Bank SA
- Credit Agricole SA (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]The European single currency plunged against the Japanese Yen on Friday, which in turn strengthened on the BoJ's disappointing statement.[/ANNOUNCE] The second support area was also pierced that day, causing the EUR/JPY cross to drop to the 114.00 psychological level. Technical indicators today are giving bearish signals, suggesting that a correction is unlikely to take place. Moreover, the pair faces a relatively strong resistance area around 114.75, namely the 20-day SMA, the weekly and the monthly PPs. This cluster is expected to trigger another Euro sell-off, causing the exchange rate to breach the 114.00 psychological level.
Traders' Sentiment
Today 69% of all open positions are long, compared to 64% previously. Meanwhile, the portion of sell orders returned to last Thursday's level of 58%, up from 40% on Friday.