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Pair's Outlook
Yesterday the Euro was unable to fall below the 113.00 level for the fourth day this week and ended the day with a 27-pip rally. The EUR/JPY cross also struggled to climb over the 113.60 level since Monday, amid lack of market movers. No significant event is likely to cause substantial moves in the given currency pair, so technically another day of flat trade is likely to take place. The European single currency also appears to keep gravitating towards the weekly PP, thus, a decline after yesterday's rally should be expected, with the 113.00 level being the target. Technical indicators are also in favour of the bearish scenario.
Traders' Sentiment
There are 65% of traders being long the Euro today (previously 67%), while the share of orders to sell the single currency slid from 53 to 38%.
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