© Image watermark
- Daiwa Securities Group Inc. (based on Bloomberg)
Pair's Outlook
The EUR/JPY lost some previous gains and slid for about 50 pips from the last bearish candle close at 141.084. Currently, the trades happen within the the 100– and 200– day SMA's range at 141.60 and 140.43, respectively. From looking at the weekly chart, it is seen that the pair is currently srtuggling to break the 55– SMA level, which in turn is pointing to the north. The pair will meet its channel support level sooner or later and a possible reverse is something to watch.
Traders' Sentiment
While having no changes in the number of market participants since yesterday, as half of the traders are being short on the pair, some of the pending orders have increased. Respectively, the 55– pip range long pending orders were added by 55% of traders on Friday.
© Image watermark