EUR/JPY remains depressed

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We've had an almost similar pass-through from U.S. Treasuries to European bonds. If you look at the fundamentals, perhaps there shouldn't be such a high pass-through. At some point you would expect a counter reaction from the ECB."
- Rabobank (based on Reuters)

Pair's Outlook
Pair tested the 129 JPY resistance for four days in a row, but did not mange to breach it. As suggested by the short term technicals pair should depreciate some more remaining in 129 to 126 JPY range. Short term dips should be supported at 127.5 and 126.5 JPY areas. Pair might unexpectedly start a rally, but it seems almost impossible it would manage to breach 129 JPY in the short term.

Traders' Sentiment
Distribution of open positions remains unchanged as bears continue to account for 52% of market participants. Same amount (52%) of pending orders are posted by the bulls. All in all we could say that market sentiment on the pair is rather neutral.

© Dukascopy Bank SA
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Tue, 25 Jun 2013 15:18:16 GMT

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Tue, 25 Jun 2013 08:25:46 GMT

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