EUR/JPY struggles to recover from Thursday's slump

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The main objective for cutting the deposit rate would be to weaken the euro. It would not be a substitute for an increase in the QE program, which is able to provide stimulus to the economy." 
- UBS (based on Bloomberg) 

Pair's Outlook 
The European currency decline to the 134.80 point on Thursday, due to ECB's Governing Council member's remarks. However, the support cluster around 135.00 managed to push the EUR/JPY back, causing the pair to close trade at 135.30. The same cluster is now the immediate support and should cause the given cross to rebound today. However, amid lack of market movers, the Euro is likely to struggle in reaching the immediate resistance around 136.00. Furthermore, technical studies now giving bullish signals, suggesting the single currency is to inch higher today as well. 

Traders' Sentiment 
Bears are now in the majority, taking up 54% of the market (previously 49%). The share of buy orders increased from 39 to 48%.
© Dukascopy Bank SA
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Actual Topics

Fri, 16 Oct 2015 14:25:09 GMT

AUD/USD to end the week under 0.73

Mixed US fundamentals limited the Aussie's gains yesterday, causing the pair to retreat from erasing Tuesday's losses.

Fri, 16 Oct 2015 07:48:05 GMT

Gold struggles to stay afloat

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