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- ING (based on Reuters)
Pair's Outlook
The EUR/JPY currency pair remained relatively unchanged on Monday, adding only five puts, despite having tested the 134.00 major level. Even though the weekly PP managed to hold the losses yesterday, the cross might not be so luck today. The 20 and 200-day SMAs keep preventing the Euro from appreciating, now reinforced by the 135.00 psychological level, whereas the monthly S1 remains the closes significant support at 134.25. Furthermore, technical indicators are now giving bearish signals, bolstering the possibility of a negative outcome.
Traders' Sentiment
Bulls and bears have reached a perfect equilibrium today, whereas the portion of buy orders increased from 57 to 74%.
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