© Dukascopy Bank SA
- ING (based on Reuters)
Pair's Outlook
Today EUR/JPY advances further, as investors maintain their appetite for higher yields. The pair steps higher from the weekly R1 at 131.23 and strengthens to the weekly R2 at 132.43, but currently the price exceeds the Bollinger band by 50 pips, thus it is likely that in the U.S. trading session it will return back within the bands. Analysing upside opportunities, in case optimistic sentiments remain in the market, EUR/JPY should test a three-year high at 134.41, which also overlaps with the weekly R3.
Traders' Sentiment
Segmentation of buy and sell positions shifted to the bearish side, since there are 58% of short opened trades in SWFX marketplace. Pending orders segment is bullish, as 59% of orders are waiting to buy the Euro.
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