© Dukascopy Bank SA
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
While the pair continues to trade in a neutral territory, the daily candle failed to hold its position above the weekly S1 at 146.44 and dipped to the downside, after touching the 4-hour resistance level at 146.93. Yet, the pair is still trading above the 50 and 100-SMAs, which are pointing to the north. In a prospect of climbing higher, the level at 150 appears to be difficult to surpass not only due to a psychological pressure, but also since it has to face the 2007 low.
Traders' Sentiment
Traders become more uncertain regarding the EUR/JPY pair as the gap between long and short positions appears to be more or less equal—54% of traders are selling the pair, while 46% are buying. While, pending orders in 100-pip range are mostly set to buy.
© Dukascopy Bank SA