© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
EUR/JPY has dipped below the major level at 144, after yesterday's advance of 144.72,which is just 40 pips away this year's high. Although, now it seems like the pair is likely to slide towards the 143 mark. The technical studies suggest differently, according to the daily and monthly ones we are likely to see the pair appreciating once again. We; however, think that in the near-term a drawback towards May high at 142.45 is more than realistic.
Traders' Sentiment
Although, there are relatively less people than yesterday considering that the greenback is going to depreciate, they are still in a distinct majority (63%). At the same time the gap between the buy (78%) and sell (22%) orders is widening.
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