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- Rabobank (based on Reuters)
Pair's Outlook
EUR/JPY cross continues to climb higher, the pair has fully recovered from the last week's drop, when the pair lost around 250 pips in two trading sessions, and now it is trading above the 138 mark. However, the technical indicators are mixed at the moment, with a longer term expectations to the upside. If the pair maintains its positions above the 138 level then it is likely to climb even higher. Nonetheless, at the moment we are cautious about the pair approaching the major level at 139.
Traders' Sentiment
The sentiment with respect to EUR/JPY stays neutral—51% of all open position are long, though five days ago they were in the minority in the market.
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