EUR/JPY consolidates above 139 JPY

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Being a member of the six person Executive Board, Coeure's comments cannot be lightly dismissed and stoke expectations for action at the March meeting."
- Westpac (based on  Reuters)

Pair's Outlook

Pair has completely lost it's bullish momentum and at the moment is consolidating above the 139 JPY mark. It is very unlikely we will see any major moves in the nearest future. Short term rallies and sell offs remain possible, but the pair should show a solid close below the 139.01/138.44 are to ignite a sell off or peak above 140.86 to provoke a rally.

Traders' Sentiment

Bulls are increasing their pressure on the bears. Bullish side of pending orders increase by 10-20% and is at 40-60% level today. Open positions, however, remain almost equally distributed, 51% against 49%, between the long and short traders, respectively.  

© Dukascopy Bank SA

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