© Dukascopy Bank SA
|
- ING (based on CNBC)
Pair's Outlook
Yesterday, the EUR/JPY currency pair edged down for the third day, successfully breaching the support cluster around 130. The cross declined 65 pips, until it stabilised at 129.5. The bearish momentum is likely to persist for a fourth day, while the technical studies suggest the same. Today the Euro is expected to fall at least down to 129, while a sharper loss is doubtful, as the level is backed by the weekly S1. However, we should not also rule out a trip towards the lower Bollinger band.
Traders' Sentiment
The majority of traders (53%) now has a positive outlook towards the Euro. The gap between the buy and sell orders widened, as 69% of commands are placed to sell the single currency.
© Dukascopy Bank SA