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- Shane Oliver, AMP Capital (based on CNBC)
Pair's Outlook
EUR/JPY is remaining neutral for now, though it might reiterate a bullish trend. And if the pair moves higher, 95.81 (PP Weekly) is likely to be an initial resistance line for bullish investors, a breakout of which would expose 96.35 (Upper resistance line) and 98.23 (55-day SMA), respectively.
Traders' Sentiment
Traders' sentiment is bullish on EUR/JPY. 67% of market participants are currently holding long positions and 33% of them are staying short on the currency pair. Within 100-pip range, the bullish sentiment weakens as only 53% of investors are anticipating the pair to continue to rise.
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