© Dukascopy Bank SA
– based on Daily Mail
Pair's Outlook
A set of fundamental data shook markets during Wednesday, making EUR/JPY violate the upper two-month triangle trend-line upon the surprise, but calming shortly after when the pair went on to test the 115.42 resistance level. A close above this level will open the way towards the triangle upper trend-line, strengthened by the Brexit dip mid-point at 115.83. We are looking for the rate to fail at the aforementioned level and take on a bearish path towards the lower triangle trend-line, where the pattern could confirm its maturity with a strong attempt at the bottom trend-line around the 114 yen mark.
Traders' Sentiment
Sentiment remains bullish with 67% of positions being long (previously 68%). The share of buy orders has advanced from 57% to 63%.
© Dukascopy Bank SA