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"More integration and more effective instruments are needed. We are not yet there"
- Vittorio Grilli, Italian Deputy Economy Minister (based on Reuters)
пЃ® Industry outlook
EUR/JPY currency couple is heading toward 100.77 at the moment. In case this support is violated, the next target lies at 99.92. Rallies are expected to be capped by resistances located at 103.04, 104.73 and 105.72.
пЃ® Traders' sentiment
For every bearish trade opened there are more than 6 bullish positions in EUR/JPY market. Accordingly, 86.12% of all the market participants hold long positions and 13.88% of them keep on being bearish on the pair.
пЃ® Long position opened
The price might rebound from the first resistance level at 101.77, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 102.12 and 102.45.
пЃ® Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 101.09, 100.76 and 100.41.
© Dukascopy Bank