EUR/JPY dips below 139 JPY

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Weak money supply growth is not only condemning the euro zone to stagnant recovery, but it is raising the odds that the single-currency area could easily slip back into recession again."
- New View Economics (based on Reuters)

Pair's Outlook

Pair continued to demonstrate strong bearish bias and dipped below 139 JPY. However, it found support slightly ahead of 50% Fibo (Jan to Feb sell off) and returned above 139 JPY. We expect to observe further bearishness at least in the short term. In case the pair dips below the weekly S2 we are almost certain to see a sell off till 136 JPY. Any king of bullish action is very unlikely, at best we could await consolidation around 140 JPY.

Traders' Sentiment

It seems that bulls are losing willingness to push the pair higher as bullish side of pending orders decreased by 10-20% and for the first time in 2 weeks is below 50% level (40-44%). Distribution of open positions remains almost unchanged—51% long.

© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.