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- Yujiro Goto, Nomura Securities (based on WSJ)
Pair's Outlook
EUR/JPY is continuing its slide on weak European fundamentals. The next targets for the pair could be 93.71 (lower Bollinger band) and Monthly S2 at 92.84. In case of a surprising trend change, bullish movements are likely to be tested by 20-day MA at 96.70. However, aggregate technical indicators solely give bullish signals on 1D, 1W and 1M timeframes.
Traders' Sentiment
The traders' sentiment on SWFX index has not changed since yesterday, as 73% of traders still expect pair's further depreciation in near term. The 27% of traders who believe in EUR/JPY appreciation should closely watch fundamentals influencing on the pair.
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