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- A senior U.S. Treasury official (based on Reuters)
Pair's Outlook
Even though the Euro declined against the Yen on Thursday, the weekly PP managed to keep the cross elevated. The EUR/JPY currency pair was unable to breach the given pivot point to the downside through all of the week, thus, another bullish development today is expected. However, the European single currency also failed to succeed in piercing the monthly PP, located at 123.97, which is also bolstered by the 20-day SMA. Meanwhile, daily technical indicators are giving mixed signals, unable to provide a clear sense of direction, but are suggesting that the given cross is likely to maintain trade between the weekly and the monthly PPs.
Traders' Sentiment
Traders' sentiment returned to its Wednesday's level of 64%, while there are now 57% of orders to buy the Euro (previously 65%).
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