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- UniCredit (based on Reuters)
Pair's Outlook
On Wednesday, the Euro advanced versus the Yen. The Euro tested the monthly S1 before settling just under the weekly R1 around 130.45. On Thursday, a correction is likely to take place, and the technical indicators are giving bearish signals. A significant support level rests at 128.71, the present location of the weekly PP. Potentially, EUR/JPY might fully negate yesterday's losses and fall deeper towards the monthly S3.
Traders' Sentiment
The share of bulls in the SWFX market increased by one percentage point: 58% of all traders have a positive outlook towards the Euro. The quantity of buy commands decreased, and they account for only 30% of all the commands.
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