© Dukascopy Bank SA
- ETX Capital (based on MarketWatch)
Pair's Outlook
While the support at 143.25/142.91 has recently failed to halt the decline, the weekly S1 at 141.34 succeeded at preventing a deeper retracement. Nonetheless, there is a substantial risk the sell-off was not negated completely and EUR/JPY therefore may still slide down to a more reliable demand area circa the monthly S1 at 140.13/04, even though daily and monthly studies are bullish.
Traders' Sentiment
The sentiment of traders with respect to EUR/JPY remains neutral—the advantage of short positions over the longs is insignificant and amounts to merely six percentage points, just as yesterday. The distribution between the buy and sell orders, in the meantime, is much more volatile, but right now their shares are equal.
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