© Dukascopy Bank SA
- Swissquote Bank SA (based on Bloomberg)
Pair's Outlook
The pair prolonged its both—shorter and longer term declines and slipped below the 136.50 level. Meanwhile, EUR/JPY is entering a narrower range of trading, meaning that we might see a break-out. However, the daily and weekly technical indicators are still bearish, suggesting that the down-trend will continue. To our mind, the pair's reaction around the 136 level could brighten the outlook on the Euro's future performance.
Traders' Sentiment
The distribution between the proponents and opponents of the Euro's appreciation relative to the Japanese Yen remains more or less the same as 24 hours ago—47% and 53% accordingly. In the meantime, the pending orders remained unchanged.
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