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- Masaaki Shirakawa, BoJ governor (based on Reuters)
Pair's Outlook
EUR/JPY slightly rose today as the Eurozone members discuss the European banking union to help Spain to preserve its financial system. If bullish trend continues, the pair is likely to test the 101.42 level (Initial resistance line) and the zone around 103.74/53 (55-day ma; R1 Monthly).
Traders' Sentiment
The difference between the amounts of long and short trades on EUR/JPY has narrowed. Nonetheless, the majority (58%) is still formed by long positions, accordingly, short positions comprise smaller part - 42%. Within 100 points from the present market price, the overwhelming majority of traders (73%) expect the pair to move downwards.
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