© Dukascopy Bank SA
- Mizuho Corporate Bank (based on CNBC)
Pair's Outlook
A supposition that the rising trend-line will withstand the bearish pressure turned out to be invalid, since EUR/JPY has already closed beneath 130.30. The SMAs for 55 and 100 days also do not seem to be sufficient to stop the price from falling. A similar situation took place at the end of 2012, then only the 200-day moving average was able to restore the bullish outlook.
Traders' Sentiment
Traders' sentiment towards the Euro-Yen currency pair remains neutral, being that the amounts of long and short positions are insignificantly different—48% and 52% respectively. As for the orders, the share of buy ones dropped significantly, from 56% down to 48%.
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