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- based on Forex Empire
Pair's Outlook
The common European currency depreciated on Tuesday against the Japanese Yen, as the currency exchange rate fell to 113.24 by the end of day's trading session. In addition, the pair touched the first weekly support level at 112.93. However, it seems that the pair will break through the support level, as daily aggregate technical indicators forecast a further southward movement for the currency exchange rate during Wednesday's trading session.
Traders' Sentiment
Today 50% of all open positions are long, compared to 40% previously, which means that SWFX traders have become neutral on the pair. Meanwhile, orders have shifted and are 45% long on Wednesday.
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