© Dukascopy Bank SA
"At this juncture all eyes are on Japan to make sure they provide comprehensive market access."
- U.S. Trade Representative Michael Froman (based on News on Japan)
Pair's Outlook
This week we saw EUR/JPY appreciating; however, today it has lost some of its previous gains and it fell to as low as 142. Since then the pair has bounced back slightly and is trading around weekly R1 at 132.28 at the moment. Nevertheless, we expect that the Euro most likely will strengthen versus the Japanese Yen and we do not think that it will fall below 142.
Traders' Sentiment
At the moment of writing 60% of the SWFX market participants are expecting the single European currency to lose value. The distribution between buy and sell orders have narrowed – 49% and 51% respectively.
© Dukascopy Bank SA