© Dukascopy Bank
"It's all weighing on the currencies. The euro and the Aussie, they are all way down"
- TD Securities (based on Bloomberg)
пЃ® Industry outlook
EUR/JPY is bearish at the moment, since it has failed to climb over 104.81, which is 55 day ma. Additional resistance is provided by the level of 106.00. Supports, on the other hand, are likely to be encountered at 102.94, 102.44 and 100.77.
пЃ® Traders' sentiment
The overwhelming majority of market participants (73.4%) is currently holding long trades in anticipation that the common currency will gain in value, while 26.6% of traders believe in Yen's appreciation instead.
пЃ® Long position opened
Initial resistance area for the pair is situated at 104.21. Subsequent goals for the bullish market payers may be found at 104.82 and 105.43.
пЃ® Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 102.99, 102.38 and 101.77.
© Dukascopy Bank