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- Daiwa Capital Markets Europe Ltd. (based on Bloomberg)
Pair's Outlook
The Euro/Yen pair has been very calm through this week, as it continues to trade below the 148 level. The trading range has been from the weekly PP at 147.11 to the major level at 148 for the whole week. Apparently, the Euro is strongly supported above the 147 mark and that could eventually push the pair above the major level at 148. An overwhelming majority of the technical indicators in all time frames are still pointing to the north.
Traders' Sentiment
The amount of bearish traders has increased slightly to 57% from 56% a day earlier, thus it seems that the traders' are getting more confident of the pair being overbought. In the meantime, the share of buy orders stabilised at 55%..
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