© Dukascopy Bank SA
- Credit Agricole SA (based on Bloomberg)
Pair's Outlook
EUR/JPY has slipped slightly lower this week. The pair fell below the weekly PP at 138.46; although, the weekly S1 together with the major level at 138 halted pair's decline. The Yen is outperforming the Euro already since the beginning of March. To our mind the lowest level the pair might approach could be the 137 mark. However, it seems the next support level (the weekly S1 and major level) around 138 could hold for now.
Traders' Sentiment
There are relatively less people than yesterday considering that the Euro is going to appreciate against the Yen, the bearish sentiment reached 56%. The distribution between the buy and sell orders is rather stable—58% and 42% respectively.
© Dukascopy Bank SA