EUR/JPY slips lower; bulls aim at 97.93

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Over the weekend, we have seen a number of comments which can be taken to imply that Europe continues to be pulled in different directions. "
- Jeremy Stretch, CIBC World Markets (based on MarketWatch)

Pair's Outlook

EUR/JPY started a week slightly lower after a strong rally last Friday. If bullish trend holds further, then 97.93 (61.80% Fibo) is likely to be the first target to be tested by bullish investors. If this level is successfully pierced, a path towards 98.43 (Upper Bollinger band) and 100.53 (100-day SMA) will be cleared.

Traders' Sentiment
Traders' sentiment maintains bullish bias today on EUR/JPY with as the largest number of positions (66%) are being held by bullish traders. Within 100-pips range, the majority of currency traders expect the pair to continue further advancement (74%).
© Dukascopy Bank SA
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