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- Dutch Finance Minister Jeroen Dijsselbloem (based on Reuters)
Pair's Outlook
Pairs consolidation at 1.3 was short lived as it tumbled by 140 pips yesterday. However, it managed to find initial support at the weekly pivot (S1) at 1.2916 and at the moment is hovering slightly above 200-day SMA at 1.296. Lack of conclusive readings from technical indicators and dynamics of market sentiment suggests that there is no catalyst in the market and pair might trade sideways for some time.
Traders' Sentiment
Change in distribution of outstanding positions in the market was minor as 52% of traders remain bearish on the euro versus the yen. Pending orders remain rather stable in favour for the bears (57%) as well.
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