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- Loekke Rasmussen (based on Bloomberg)
Pair's Outlook
Generally, the JPY received back half of the losses from the previous day by retreating down for about 60 pips. The EUR/JPY pair hiked above the previous day close before losing momentum and starting to fluctuate in a tight range between the 100% Fibonacci retracement and the weekly PP, 134.146 and 133.53 level, respectively. The Alligator jaws are still opened, indicating that the pair could eventually fall to new lows.
Traders' Sentiment
53% of all the trades are set to buy. On the contrary, the 50 and 100 pip pending orders are mostly bearish, since only 29% and 18% or the market participants are willing to buy the pair.
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