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- BTMU (based on FXStreet)
Pair's Outlook
The European single currency behaved according to expectations, having weakened against the Yen yesterday and with losses limited by the strong support cluster, located around 114.50. The EUR/JPY currency pair is expected to continue sliding down today, despite technical indicators retaining bullish signals. The immediate demand area is also unlikely to limit the losses, thus, a drop below the 114.00 is possible. In case of a close below the 114.00 threshold the Euro will be expected to drop closer to the 113.00 mark, where the possibility of the bullish momentum to be regained is the highest at the moment.
Traders' Sentiment
Although not as strong as yesterday, but market sentiment remains bullish at 63% (previously 64%). At the same time, all pending orders are equally divided between the buy and the sell ones.
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