EUR/JPY near 113.50 on Wednesday

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is so much in the way of support below that is difficult to imagine selling at this point in time, especially considering that the Bank of Japan will get involved sooner or later."
- based on Forex Empire 

Pair's Outlook 
The common European currency depreciated on Tuesday against the Japanese Yen, as the currency exchange rate fell to 113.24 by the end of day's trading session. In addition, the pair touched the first weekly support level at 112.93. However, it seems that the pair will break through the support level, as daily aggregate technical indicators forecast a further southward movement for the currency exchange rate during Wednesday's trading session.  

Traders' Sentiment 
Today 50% of all open positions are long, compared to 40% previously, which means that SWFX traders have become neutral on the pair. Meanwhile, orders have shifted and are 45% long on Wednesday.
© Dukascopy Bank SA
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