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- Monex (based on CNBC)
Pair's Outlook
The EUR/JPY cross fell in line with expectations, as it edged lower on Friday. Ultimately, the pair settled in front of the 200-day SMA at 135.90, despite having reached the second support area around 135.45. Moreover, the given SMA is likely to cause the Euro to rebound on Monday, with the nearest resistance located at 136.70, namely the weekly R1, while a strong cluster around 137.00 is expected to limit any possible volatility. Meanwhile, technical indicators are showing mixed signs, unable to confirm the scenario.
Traders' Sentiment
Traders' sentiment shifted to bearish side, as 51% of them are short the Euro today. At the same time, there are now slightly more orders to acquire the single currency, namely 40% (up from 37%).
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