© Dukascopy Bank
"Risk of Greek exit from Euro has risen to 50%"
- Citigroup (based on WSJ)
Industry outlook
EUR/JPY carries on recovering from 99.00/98.90. The immediate resistance is at 102.55/60, above which the pair should encounter 107.85 (200 say ma). Supports may be found at 101.12 and at 100.00.
Traders' sentiment
The gap between the amounts of bullish and bearish trades on EUR/USD is gradually decreasing. Currently 64% of market participants are long on the pair, accordingly, 36% are short on it.
Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 102.39, 103.00 and 104.01.
Short position opened
The immediate support line is at 100.77. Should the price step even lower, it will encounter subsequent levels at 99.76 and 99.15, where recovery might start.
© Dukascopy Bank