© Dukascopy Bank
"The fact that the [Italian] 10-year yield didn't come down and they sold a bit less than that maximum target amount, that spurred further euro selling"
- Wells Fargo & Co. (based on Bloomberg)
пЃ® Industry outlook
EUR/JPY attempts to stabilise near a support situated at 100.00, nonetheless this endeavour is expected to fail and trigger a sell off down to 99.50. In case the latter level is breached as well, a pullback might extend to 99.00.
пЃ® Traders' sentiment
Being that the Euro is the most popular currency at the moment, the largest part of market participants stay bullish on EUR/JPY, namely 82.39%. At the same time 17.61% of traders expect the Japanese Yen to appreciate.
пЃ® Long position opened
The price might rebound from the first resistance level at 101.00, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 101.39 and 101.87.
пЃ® Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 100.13, 99.65 and 99.26.
© Dukascopy Bank