EUR/JPY gains for third straight day

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The market is bringing forward its expectations for Fed tightening , or at least has more confidence rates will rise in the U.S ." 
- Royal Bank of Canada (based on Bloomberg) 

Pair's Outlook 
The pair prolonged its advance and appreciated towards the weekly R2 at 142.41 today. This week the Euro had a rather solid gain and it broke the monthly PP and weekly R1. We expect the pair approaching the April highs and weekly R3 at around 143; however, if the pair fails to do so a decline could follow. Although, at the moment it seems that the 18-nation currency is well-supported by the weekly R1 and monthly PP. 

Traders' Sentiment 
The difference between the bullish and bearish market participants narrowed, at the time of writing 52% of the traders expect a decline. In the meantime, the share of sell orders slid from 59% down to 56%.
© Dukascopy Bank SA

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