"Eurozone sentiment has improved consistently in recent weeks. The shared currency's rallies have started to ease though, as investors await more evidence that the currency block's economic situation is improving."
— Josh Jeffery (based on Future Currency Forecast)
Pair's outlook
The Euro started today's trading session with strong appreciation against the Yen. Nevertheless, the upper Bollinger band at 125.67 on the hourly chart proved to be strong resistance, thus resulting in the pair trading lower towards the 20-hour SMA at 125.37. In general, technical indicators flash mild bearish signals, while oscillators indicate that the Euro is overbought. This is likewise apparent from the three-week sideways movement when the pair was not able to penetrate the 125.39 level, the highest since April, 2016. Thus, EUR/JPY may struggle to overcome it in the remaining trading week. Nevertheless, it is still expected that the Euro closes today with gains circa 125.20/30.
Traders' sentiment
Traders are becoming more bearish, as 59% of open positions are short. Meanwhile, 53% of set up orders are to sell the pair.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -18% | -12% | -14% | |
| Orders | -6% | -2% | 2% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Sell | Sell | Sell | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↘ | |