© Dukascopy Bank SA
- Societe Generale (based on FXStreet)
Pair's Outlook
Thursday was a rather positive day for the European currency, as it managed to erase the larger part of this week's losses against the Yen yesterday. The Euro attempted to outperform the Yen again today, but upon reaching Monday's opening level the pair lost its bullish momentum. This development was hardly surprising, as technical indicators today suggested a negative outcome for the EUR/JPY cross. On the other hand, the monthly and the weekly S1s just below today's opening price could prevent the Euro from falling back down, but a close far in the green zone is also unlikely, with the 121.00 mark expected to remain unclaimed.
Traders' Sentiment
More traders now have a positive outlook towards towards the Euro, namely 60%, compared to 55% on Thursday.
© Dukascopy Bank SA