© Dukascopy Bank SA
- Citigroup (based on CNBC)
Pair's Outlook
As it was expected, the 55-day SMA turned out to be unable to hold the selling pressure and allowed the dip to extend down to the support at 128.57/36 that has repeatedly proved to be strong. If this gives in as well, additional demand could be encountered around 128.02 (100-day SMA), but we are more confident in 127.40, which is the major rising support line.
Traders' Sentiment
The difference between the bullish and bearish towards EUR/JPY SWFX marketplace participants has largely stayed unchanged. Right now the share of long positions amounts to 41% (40% yesterday). As for the orders, currently 54% of them are placed with the intention to buy the Euro and the rest to sell it against the Yen.
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