© Dukascopy Bank SA
- Societe Generale SA (based on Bloomberg)
Pair's Outlook
The Europe's single currency most likely will extend its decline against the Japanese Yen to three straight weeks today, as the currency pair is heading towards the 136 mark. The technical indicators do not give any clear signals for the time being. However, there are a couple of important support levels ahead. The first one and the most important for now is the weekly S1 and July low at 136.47/37, which could possibly slow the pair's current retreat.
Traders' Sentiment
The traders' sentiment has stood steady, as 55% of them think that the Euro is undervalued against the Japanese Yen for now. The gap between the buy (43%) and sell (57%) orders placed 100 pips from the spot has narrowed slightly.
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