EUR/JPY rebounds from 103.88

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"On Tuesday night we'll know how they're going to kick the can down the road and there will probably be a sense of relief some kind of agreement has been reached and that will probably help Spanish bonds as well."
- Swordfish Research (based on Reuters)

Pair's Outlook
After promising rally pair did not manage to step up above 104 JPY mark and ended its rally at 103.88; at the moment pair is hovering at 103.3. For the rest of the trading week not much should influence pair as it has been fluctuating between two technical levels for the whole day and short term technicals give neutral outlook.  

Traders' Sentiment
Almost for the whole last week ratio between bulls and bears was  1:1 with bulls gaining insignificant upper hand once in a while. However, share of pending buy orders (72%) increased significantly since yesterday and are in clear majority over sell orders (28%).

© Dukascopy Bank SA
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