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- Carmignac (based on Reuters)
Pair's Outlook
The Euro found support in face of the weekly S2 on Thursday, which helped the single currency to retake the 134.00 major level against the Yen. The EUR/JPY pair closed trade between the monthly and weekly S1, having tested the weekly one, but unable to pierce it. Today the mentioned level is providing resistance, while the monthly S1 is making attempts to limit the Euro's volatility to the downside. Despite the pair's bearish movements, technical studies suggest the cross is to advance for the second day in a row.
Traders' Sentiment
Bulls and bears remain unchanged, as 55% of all positions are short and remaining 45% are long. The number of purchase orders, however, increased significantly, from 42 to 61%.
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