Note: This section contains information in English only."Fundamental factors stemming from a growing current account surplus are still likely to support the yen but also the euro. However, there is one key difference: the euro is significantly undervalued; the yen is not."
- Danske Bank (based on FXStreet)
Pair's Outlook
[ANNOUNCE]Yesterday the Euro once again failed to climb over the 123.00 major level, resulting in a mild bearish development of 75 pips.[/ANNOUNCE] The closest support was unable to limit the losses, but the second level, namely the weekly S1, managed to limit the volatility, allowing the EUR/JPY cross to retain its position above the 122.00 mark. Even though technical indicators keep suggesting a rally is due, there is still room for a decline towards the psychological level of 121.50. A positive outcome, however, is more probable, with the 123.00 level still acting as the ceiling.
Traders' Sentiment
Although slightly weaker than yesterday, but market sentiment remains bullish at 56% (previously 58%). At the same time, the share of orders to purchase the European single currency inched up from 49 to 52%.
Thu, 29 Dec 2016 14:36:20 GMT
Source: Dukascopy Bank SA
- Danske Bank (based on FXStreet)
Pair's Outlook
[ANNOUNCE]Yesterday the Euro once again failed to climb over the 123.00 major level, resulting in a mild bearish development of 75 pips.[/ANNOUNCE] The closest support was unable to limit the losses, but the second level, namely the weekly S1, managed to limit the volatility, allowing the EUR/JPY cross to retain its position above the 122.00 mark. Even though technical indicators keep suggesting a rally is due, there is still room for a decline towards the psychological level of 121.50. A positive outcome, however, is more probable, with the 123.00 level still acting as the ceiling.
Traders' Sentiment
Although slightly weaker than yesterday, but market sentiment remains bullish at 56% (previously 58%). At the same time, the share of orders to purchase the European single currency inched up from 49 to 52%.