© Dukascopy Bank SA
- OECD (based on Reuters)
Pair's Outlook
EUR/JPY failed to consolidate above the 139 mark, after extremely successful week for the Euro bulls, when the pair appreciated more than 300 pips. After a failure around the 139 level the currency pair received a bearish impetus and fell 50 pips lower, this seems like a correction. Moreover, the short term technical studies are slightly to the downside. Nevertheless, to our mind, a sideways trend could appear, as a decline below the 138 level seems not likely.
Traders' Sentiment
The difference between the long (47%) and short (53%) positions on EUR/JPY are still very stable, suggesting that a slight majority of the traders are sceptical on further advance. At the same time the gap between the buy (58%) and sell (42%) orders is widening.
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