© Dukascopy Bank SA
- Japanese bank (based on Reuters)
Pair's Outlook
After last week's struggle to break the monthly PP at 141.70, Eurozone's currency has successfully breached it today and it is trading around the weekly R1 at 141.85. To our mind this gain might start a bullish trend if the pair closes above the monthly PP. The weekly and monthly technical indicators mostly suggest that the Euro will increase in the value against the Japanese Yen. We expect a movement towards the weekly R2 at 142.40.
Traders' Sentiment
The sentiment towards EUR/JPY improved, but a slight majority of the market participants are still expecting the single currency to underperform, namely 55% of them.
© Dukascopy Bank SA