Note: This section contains information in English only."Long EUR/JPY if Support Shows Between 119.90-120.91."
- James Stanley, Daily FX
Pair's Outlook
[ANNOUNCE]The common European currency bounced around the weekly pivot point, which is located at 122.54, against the Japanese Yen.[/ANNOUNCE] Previously, on Monday the currency exchange rate fell below the newly formed weekly PP. However, the fall was stopped by the 20-hour SMA, which on Tuesday had moved even higher to the 122.30 level. It is most likely that the rate will surge, as the SMA pushes it through the pivot point's resistance.
Traders' Sentiment
SWFX traders have increased their bullish outlook, as 58% of open positions were long on Tuesday, compared to 55% during Monday's trading session. In the meantime, trader set up bullish pending orders have decreased, as 55% o set up orders were to buy on Monday. Previously 57% were set up to buy.
Tue, 27 Dec 2016 14:21:42 GMT
Source: Dukascopy Bank SA
- James Stanley, Daily FX
Pair's Outlook
[ANNOUNCE]The common European currency bounced around the weekly pivot point, which is located at 122.54, against the Japanese Yen.[/ANNOUNCE] Previously, on Monday the currency exchange rate fell below the newly formed weekly PP. However, the fall was stopped by the 20-hour SMA, which on Tuesday had moved even higher to the 122.30 level. It is most likely that the rate will surge, as the SMA pushes it through the pivot point's resistance.
Traders' Sentiment
SWFX traders have increased their bullish outlook, as 58% of open positions were long on Tuesday, compared to 55% during Monday's trading session. In the meantime, trader set up bullish pending orders have decreased, as 55% o set up orders were to buy on Monday. Previously 57% were set up to buy.