© Dukascopy Bank SA
- Markit (based on Bloomberg)
Pair's Outlook
The EUR/JPY currency pair found support in face of the weekly S1 and 200-day SMA and managed to rebound. Moreover, the Euro overperformed, as the rally even negated the weekly losses. Technical indicators shifted from neutral to bullish signals, suggesting the single currency is to extend its climb today; however, the weekly pivot point is blocking the way at 136.30. A drop below 136.00 is possible, but unlikely, as that level kept providing substantial resistance in the past and could now be a potential support.
Traders' Sentiment
Bulls keep retreating, as only 42% of all positions are long today. There are now 45% of orders to buy the Euro (previously 34%).
© Dukascopy Bank SA