EUR/JPY receives additional boost from 102.765 - Technical Analysis - Dukascopy Bank

Mon, 17 Sep 2012 15:20:09 GMT
Source: Dukascopy Bank SA
 
© Dukascopy Bank SA
"It has been a game changer, and Draghi has done the heavy lifting."
-Merk Investments (based on Bloomberg) 

Pair's Outlook
Pair posted for possible return back below 100, but appreciated further after receiving boost from Fibonacci (50% of move since 21st of March, 2012) at 102.765. However, pairs downside risk persists and probability of bearish correction in the near future increases further.

Traders' Sentiment
Traders switched sides during the weekend—at the moment 56% of all open positions on the pair are long. In addition, 57% of pending orders are buy orders suggesting that we should see further strengthening in the bullish sentiment.

© Dukascopy Bank SA

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