© Dukascopy Bank SA
- Swiss money manager (based on Bloomberg)
Pair's Outlook
EUR/JPY has plummeted below the cluster of support levels (200-day SMA, Jul high, monthly R2) around the 139 level, after yesterday's gains. However, even though the pair is falling lower the pair's technical indicators are bullish. Also, at the moment the Euro is trading around the major level at 139, which might halt the pair's current decline. Nonetheless, we expect that the pair could slide towards 20-day SMA and weekly S1 for the time being.
Traders' Sentiment
Market sentiment remains unchanged as bulls continue to hold 51% of all of the open positions on the pair. Concerning the orders placed 100 pips from the spot, there are now slightly less commands to sell—also 51%.
© Dukascopy Bank SA