"With the pair continuing to hold on to its recovery pressure, more strength is now expected in the days ahead."
— FXTechstrategy Team (based on Investing.com)
Pair's outlook
EUR/JPY appreciated in the morning session, being driven by moderate upside risks. The Euro tested the upper boundary of a short-term wedge at 125.40 prior to loosing its momentum. The situation shifted mid-day when bears took the upper hand and managed to move the rate below the weekly PP at 124.82. Thus, the next support limiting the pair is the 20-day SMA at 124.48. It is not expected that this level is breached in this session. By and large, it is more likely that the rate returns in the 124.82/125.40 range. And in the upcoming week, the Euro may re-test 125.40 once again.
Traders' sentiment
Market sentiment for EUR/JPY is almost neutral, as 51% of traders are holding short positions. Meanwhile, 52% of pending orders are to buy the Euro.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -2% | -4% | -14% | |
| Orders | 4% | 0% | -4% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Sell | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↘ | |