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- UniCredit SpA in Milan (based on Bloomberg)
Pair's Outlook
The EUR/JPY tumbled 186 pips from the previous close, breaking the 55– day SMA and the monthly S1 support at 143.08 later the same day. An immediate support was found at the weekly S2 at 142.21, where the pair failed to fall into an oversold area. A break below that level should test the 50% Fibonacci retracement level at 141.94. Meanwhile, both the 100– and 200– day SMAs are pointing to the North.
Traders' Sentiment
The sentiment have not changed significantly from the last update as 46% of opened positions are long, 4% up. Meanwhile, the 50– pip range pending orders are placed to sell for 36% of traders, while the 100– pip orders are sold in 55%.
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