EUR/JPY stays pressed by bears; heading towards 96.21

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"At the moment, the risks might be a bit less than they were in the recent past, but we still see the current [euro] move as corrective, and as long as institutional issues are pending then the risk is for another down leg."
- KBC (based on CNBC)

Pair's Outlook

The Euro continues mildly declined against the Japanese Yen. If bearish momentum intensifies, 96.21 (Upper support line; S1 Weekly) is going to be an initial support level among currency traders. 95.60 (June 1 Low) and 95.11 (S2 Weekly) are likely to be next once an initial level is pierced.

Traders' Sentiment
EUR/JPY traders' sentiment is bullish as 67% of investors are currently holding long positions and 33% of market participants keep short positions. Allocation of pending orders hints that 68% of investors anticipate the pair to bounce from the all-time lows and reiterate bullish trend.
© Dukascopy Bank SA
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Thu, 19 Jul 2012 14:45:36 GMT

The Aussie dollar edged higher against the US dollar, aims at 1.04

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