EUR/JPY sold off back to 139

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We expect the euro to trend lower over the coming few weeks as we also think that the ECB should do more."
- Credit Agricole (based on Bloomberg)


Pair's Outlook

Although EUR/JPY has confirmed the falling trend-line as the new support, its bullish momentum turned out to be insufficient to pierce through the tough resistance at 140.15/05. As a result, the pair returned back to the 100-day SMA, where it should find enough demand in order to reignite the rally, as suggested by the majority of monthly technical indicators.

Traders' Sentiment

Presently, the amounts of bullish (52%) and bearish (48%) market participants are nearly equal, meaning that the traders' sentiment at the moment is neutral. Meanwhile, there is a significant number (67%) of sell orders placed on the currency pair, even though their share has decreased since the previous report (from 78%).
© Dukascopy Bank SA

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