© Dukascopy
"There is a chance that the BOJ will adopt further easing steps within this fiscal year"
- Norinchukin Research Institute (Reuters)
Industry outlook
The bearish momentum is weakening while the price approaches a tough support located at 103.08. Should the latter level be penetrated, 100.77 will come into play. Resistances, on the other hand, are situated at 106.80 and 108.50.
Traders' sentiment
The Euro keeps on being the most popular currency among its major counterparts, especially in EUR/JPY pair, where 62.3% of all the positions held are long and the rest, being 37.7%, are short.
Long position opened
Initial resistance area for the pair is situated at 104.38. Subsequent goals for the bullish market payers may be found at 104.72 and 105.50.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 103.60, 103.17 and 102.39.
© Dukascopy