EUR/JPY hovering above 55-day SMA

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"You get some slightly stronger data after the euro has fallen anyway, so it's natural that people will then question if the ECB will do something this week. The euro did come off the lows from September so it could be technically oriented as well."
- Bank of New York Mellon (based on Bloomberg)

Pair's Outlook
Pair started the week in a calm fashion and at the moment is hovering above the 55-day SMA. Despite the strength suggested by the technical indicators we do not expect that a rally will start any time soon. We are much more keen to expect further bearishness from  the market participants, but the pair should not dip below 132.04 JPY.
 
Traders' Sentiment
Bulls once again hold majority in the market. At the moment they account for 55% of all market participants. Moderate majority (64%) of all pending orders are set in their favour as well.

© Dukascopy Bank SA
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Actual Topics

Mon, 04 Nov 2013 15:30:29 GMT

AUD/USD testing weekly and monthly PP

Pair is channelling some bullishness and at the moment and is testing 95 cent mark.

Mon, 04 Nov 2013 15:05:45 GMT

Market Research: EUR

The beginning of the last week the Euro stayed buoyant. Within the first three days the common currency even appreciated 0.3%, even though its main counterpart, the U.S. Dollar, has been on the constant rise since Oct 28 despite weak fundamentals. Apparently, the market participants gave the Euro the benefit of the doubt ahead of the important macroeconomic releases that

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