EUR/JPY gains momentum

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"So far having the risks off the table of U.S. GDP, FOMC, ECB, Bank of England - all of that is allowing the old trend to re-emerge."
- Scotiabank (based on Reuters)


Pair's Outlook

Yesterday EUR/JPY soared above the weekly pivot point at 130.95, retaining the strong bullish momentum that is expected to push the price even higher. The nearest targets are the weekly R1 at 131.93 and the monthly R1 at 132.58, although a potential threat to the upward tendency is deemed to be a multi-year high at 133.81, a level also reinforced by the weekly R3.

Traders' Sentiment
There has been a substantial jump in the Japanese Yen's popularity recently, being that now on average it is now bought in 33% of cases, yesterday this measure stood at merely 27%. However, this did not introduce any changes into the sentiment towards EUR/JPY, where 46% of positions are still long and 54% are short.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.