© Dukascopy Bank SA
- European Central Bank (based on CNBC)
Pair's Outlook
EUR/JPY attempts to advance further as it confidently inches towards 101.29 level. If bulls manage to hold the momentum, then after 101.29 level (R1 Weekly) is breached, 102.13 (Upper Bollinger band; R2 Weekly) and 103.74/53 (200-day ma; R1 Monthly) might become the next targets among bullish investors.
Traders' Sentiment
The majority of traders (66%) hold long positions on EUR/JPY, expecting the single European currency to appreciate against Japan's Yen. At the same time, 34% of traders believe in an alternative scenario. As for the orders placed on the currency pair, the majority (53%) are buy orders, leaving only 47% to sell orders.
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