“The euro still seems to be in a downward sloping tunnel”- State Street (based on CNBC)Industry outlookThe euro-Japanese yen currency pair is recovering after a test of 100.43. Additional support is provided by the levels at 100.00 and 99.85. Rallies on the other hand are capped by 104.96, 107.00 and 107.97.Traders' sentimentMany long positions were closed yesterday, as the share
“There are still plenty of problems that face the European financial system. The risk rally will probably run out of steam in the next week”- RBS (based on Reuters)Industry outlookThe currency couple is presently headed towards 1.3680/90,although it is expected to struggle near a resistance line at1.3447. The long-term target remains at 1.2860, currently coveredby supports at 1.3250 and 1.3145.Traders’
“External factors affected production negatively, the yen's strength was also a negative factor”- Japan Research Institute (based on WSJ)Industry outlookAs the industry outlook suggests the currency pair is capped from above by resistances situated at 77.23, 77.45 and 77.83. Supports, on the other hand, may be found at 76.29/25, 75.94 and 75.00.Traders’ sentimentTraders’ sentiment in USD/JPY market is fixed, as
“Weak economic data would support the U.S. dollaron a safe-haven bid“- Commonwealth Bank (based on Bloomberg)Industry outlookThe possibility of the currency couple climbing up to the area of 1.5783/1.5973 is constantly decreasing. As soon as a support at 1.5500 is breached, losses may continue till the price slides down to 1.4973.Traders’ sentimentGBP/USD traders’ sentiment seems to be rather stable, without
“There would be demand for safe haven currencies, like the dollar and yen”- Commonwealth Bank (based on Bloomberg)Industry outlookEUR/JPY extends its rebound from a strong support at 101.15, which is anticipated to last until 105.67 or 107.97/108.45. Dips will be limited by support lines located at 102.60, 101.95 and 101.15.Traders’ sentimentMore traders have become confident in the Japanese yen, as
“Economic growth in Europe and the U.S. is notthat good, and that will put pressure on the euroand give a bid to the dollar”- Commonwealth Bank (based on Reuters)Industry outlookIn the short-term the bullish momentum is likely to fade away and slowly turn into a bearish one, which is expected to drag the pair down to 1.3515 en route to