© Dukascopy Bank SA
- ING (based on CNBC)
Pair's Outlook
The EUR/JPY currency pair behaved according to the forecast last Friday. Volatility stretched out to the 138 psychological level, but overall the cross remained relatively flat, as it lost only two pips. However, according to the sort and medium-term technical, the Euro might receive a boost today, but with the weekly PP and monthly R2 around 139.25 limiting the gains. Moreover, two strong clusters are supporting the single currency from the downside, which are likely to push the pair back up in case any losses occur.
Traders' Sentiment
The same number of traders as last Friday still have a negative outlook towards the Euro, namely 48%. The share of commands to buy the European currency, however, edged up from 45 to 47%.
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