© Dukascopy Bank SA
- Commerzbank AG (based on Bloomberg)
Pair's Outlook
EUR/JPY has declined and most likely will end the week with losses, as the pair has slipped below the weekly S1 and 20-day SMA at 147.73/44. Still the pair looks well-supported by the monthly PP and 2013 high that is located at 145.77. Nevertheless, an overwhelming majority of the technical indicators remain strongly bullish in all time frames. Therefore, the possibility of a rebound towards the 149 level remains rather high.
Traders' Sentiment
The portion of bears lost two percentage points, but still a distinct majority of traders expect a decline of the shared currency, specifically 62% of them. In the meantime, the share of sell orders slid from 53% down to 52%.
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