EUR/JPY settles above 139.03/138.65

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The movement of [the yen] over the last two days has been impressive compared to most other currencies and its weakness beats almost everything."
- FX Concepts (based on MarketWatch)

Pair's Outlook

The currency pair has just breached the resistance represented by the 2009 highs, but seems to have lost its bullish momentum in the process. If EUR/JPY gains a solid foothold above 139.03/138.65, it will be well-positioned to extend the advancement. The nearest obstacle in this case will be the weekly R1 and the up-trend resistance line at 140.55/29.

Traders' Sentiment

The attitude of the SWFX marketplace participants with respect to EUR/JPY remains unchanged, even despite the two-day pause in trading during which many usually review their positioning. Right now 42% of traders consider the Euro to be bullish, whereas the majority (58%) believe the rally is about to give way for a sell-off.
© Dukascopy Bank SA
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