Note: This section contains information in English only."There's concern about the health of European banks -- risks are skewed to the upside for the yen."
– Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]The EUR/JPY cross underwent a correction on Monday, failing to hold above the 113.00 level.[/ANNOUNCE] Today the lower border is the 112.20 level, with a tough support cluster located just above it, represented by the 23.60% Fibo, the Bollinger band and the weekly S1. The bearish development is more probable, as technical studies keep giving the appropriate signals. Nonetheless, we have seen the Euro refusing to leave the 113.00 major level, indicating that there is a chance for a rally to take place today, but with the exchange rate unlikely edging higher above the immediate resistance of 113.35, namely the weekly PP and the monthly S1.
Traders' Sentiment
Bullish market sentiment remains unchanged at 68%, whereas the portion of buy orders inched down from 62 to 58%.
Tue, 27 Sep 2016 12:41:36 GMT
Source: Dukascopy Bank SA
– Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]The EUR/JPY cross underwent a correction on Monday, failing to hold above the 113.00 level.[/ANNOUNCE] Today the lower border is the 112.20 level, with a tough support cluster located just above it, represented by the 23.60% Fibo, the Bollinger band and the weekly S1. The bearish development is more probable, as technical studies keep giving the appropriate signals. Nonetheless, we have seen the Euro refusing to leave the 113.00 major level, indicating that there is a chance for a rally to take place today, but with the exchange rate unlikely edging higher above the immediate resistance of 113.35, namely the weekly PP and the monthly S1.
Traders' Sentiment
Bullish market sentiment remains unchanged at 68%, whereas the portion of buy orders inched down from 62 to 58%.