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- BK Asset Management (based on MarketWatch)
Pair's Outlook
The Euro continues trading in a flat trend against the Yen. If bullish momentum adds to gains, 97.87 (61.80% Fibo) is going to be an initial resistance level among investors. 98.88 (R2 Weekly) and 99.47 (100-day SMA) are likely to be next once an initial level is pierced.
Traders' Sentiment
Traders' sentiment remains bullish on EUR/JPY today, though it slightly weakened compared to yesterday as 65% (70% yesterday) of market participants are presently long on the currency pair and 35% of traders still expect the pair to decline further. The allocation of long and short positions points at a weakening bullish sentiment as 54% of investors expect the pair to advance over the middle term.
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