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- Satoshi Okagawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation (based on Reuters)
Pair's Outlook
The common European currency continued moving south today as worries over Spain intensified today. With the fundamental factors remaining unchanged, the bearish momentum has a chance to intensify and in this case, initial support level at 98.43 (Initial support line) is likely to be in focus by the bears. Once this level is pierced, 97.73 (Lower Bollinger band; S1 Weekly) and 97.01 (S2 Weekly) are going to be targeted.
Traders' Sentiment
The ratio between the amounts of bullish and bearish on EUR/JPY among SWFX marketplace participants is inclined towards bears as the vast majority of investors (75%) expect the Euro to fall further.
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