EUR/JPY approaching 102

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"If there is some sort of resolution politically to bring that forward, that could break (the euro) out (of its range), but it's very difficult to know how that resolution can be achieved when Spain politically is not in a position where it can ask for that bailout." 
-Rabobank (based on Reuters)

Pair's Outlook
Pair is continuing bullish rally after receiving a push from Fibonacci retracement (38.2% of 25th of July—17th of September move) at 100.17 yesterday and is trying to step up and breach 102.  It is likely pairs advancement will continue until it approaches higher resistance levels at 102.6 and higher.

Traders' Sentiment
For the second day in a row distribution of open long and short positions on the pair are in perfect equilibrium. Amount of pending buy orders on the pair dropped from 75% to 57% today, suggesting uncertainty about pair's future.

© Dukascopy Bank SA
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