© Dukascopy Bank SA
- Commerzbank AG (based on Bloomberg)
Pair's Outlook
The 18-nation currency opened below the last week's closing price and set a new this year's low at 135.55, even though the level approached past week was already the lowest level in a month. Nonetheless, the pair has gained some bullish momentum today, as the pair is challenging the 136 level. If the pair successfully breaches the major level then July low and the weekly PP at 136.37/40 is likely to be tested in the short run.
Traders' Sentiment
The sentiment is continuing to grow, as of today already 57% of the SWFX traders' are long on the EUR/JPY cross. The distribution between the buy and sell orders is very quite unstable—21% and 79% respectively.
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