EUR/JPY trapped within the walls of 55 and 200-day SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"EUR/JPY has eased back from the 4 month resistance line at 134.58 and very near term we would allow for some slippage to 132.70/20, this should ideally hold for another attempt on the topside. There is scope for the top of the channel at 136.15." - Commerzbank (based on FXStreet) 

Pair's Outlook 
The European currency declined against the Japanese Yen on Monday, with volatility limited by the 55 and 200-day SMAs. Due to lack of market movers, the given cross is expected to remain relatively unchanged, with a slight edge to downside, as technical indicators in the daily timeframe suggest. Furthermore, the 55-day SMA keeps providing support around 133.31, whereas the 200-day one, along with the Bollinger band, is acting as an immediate resistance just above the 134.00 major level.  

Traders' Sentiment 
Although not as strong as yesterday, but SWFX traders' sentiment remains bullish at 72% (previously 74%). At the same time, there are now more commands to buy the Euro, namely 57% (up from 53%).
© Dukascopy Bank SA
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