Note: This section contains information in English only."Some investors probably feel that there is an increased possibility of (Japanese) government intervention... and therefore decided to take some of their yen bids off the table."
- IG Markets (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]As was anticipated, the European single currency weakened against the Yen, unable to maintain trade above the 123.00 major level yesterday.[/ANNOUNCE] According to technical indicators, the EUR/JPY currency pair is to sustain another decline today. The closest support remains unchanged, namely the Bollinger band around 121.08, while the weekly PP and the 20-day SMA form a strong resistance area circa 123.40. Since the bearish scenario is expected to prevail, the 121.70 level should be considered as a potential support, as it prevented the given cross from falling deeper since the middle of April.
Traders' Sentiment
Market sentiment shifted to the bearish side, as 57% of all open positions are now short (previously 66%). Meanwhile, the number of sell orders increased from 51 to 55%.
Fri, 06 May 2016 14:52:21 GMT
Source: Dukascopy Bank SA
- IG Markets (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]As was anticipated, the European single currency weakened against the Yen, unable to maintain trade above the 123.00 major level yesterday.[/ANNOUNCE] According to technical indicators, the EUR/JPY currency pair is to sustain another decline today. The closest support remains unchanged, namely the Bollinger band around 121.08, while the weekly PP and the 20-day SMA form a strong resistance area circa 123.40. Since the bearish scenario is expected to prevail, the 121.70 level should be considered as a potential support, as it prevented the given cross from falling deeper since the middle of April.
Traders' Sentiment
Market sentiment shifted to the bearish side, as 57% of all open positions are now short (previously 66%). Meanwhile, the number of sell orders increased from 51 to 55%.