© Dukascopy Bank SA
- UBS (based on Bloomberg)
Pair's Outlook
The European currency decline to the 134.80 point on Thursday, due to ECB's Governing Council member's remarks. However, the support cluster around 135.00 managed to push the EUR/JPY back, causing the pair to close trade at 135.30. The same cluster is now the immediate support and should cause the given cross to rebound today. However, amid lack of market movers, the Euro is likely to struggle in reaching the immediate resistance around 136.00. Furthermore, technical studies now giving bullish signals, suggesting the single currency is to inch higher today as well.
Traders' Sentiment
Bears are now in the majority, taking up 54% of the market (previously 49%). The share of buy orders increased from 39 to 48%.
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