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- Masafumi Yamamoto, Chief Currency Strategistat Barclays Bank (based on Dukascopy Expert Commentary)
Pair's Outlook
EUR/JPY attempts to recover for the second day, consolidating within the 101.56/14 price channel, after falling for almost 2 consecutive months. In case bullish trend emerges, investors could focus their attention on 101.56 (Weekly PP), a breach of which would expose 102.53 (61.80% Fibo) and 104.50 levels (200-day ma).
Traders' Sentiment
At the moment the number of short positions on the currency pair outweighs the number of long ones, as their portions in the SWFX marketplace are 46% and 54%, respectively. However, within the range of 100 pips from the current price long positions take the lead, exceeding sell orders by 10%, implying the possibility of reiteration of the bullish sentiment in the nearest future.
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