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- Bank of Tokyo-Mitsubishi UFJ (based on Reuters)
Pair's Outlook
Bullish impetus on the pair is strong after weekend as pair is trying to breach 102 level with intention to advance at least to the 5th of October high at 102.79. Although technical indicators point at appreciation of the pair it still will have to pass the barrier of Bollinger band at 102.6 which is likely to slow down pair's advance.
Traders' Sentiment
SWFX traders' sentiment is slightly bearish towards EUR/JPY, being that 53% of all the orders opened are short, leaving 47% of the market to bulls. Concerning pending orders, 59% are to buy the 17-nation currency and 41% are to sell it against the Japanese Yen, giving a contrary signal.
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