© Dukascopy Bank SA
- European commissioner for economic and monetary affairs (based on The New York Times)
Pair's Outlook
EUR/JPY appreciates further and moves along the Bollinger band, setting a seventh straight gain. Currently the pair is eroding the monthly R3 level at 130.87 and is very close to the weekly R1 at 131.48. The news form the Bank of Japan pushed the currency pair to an overbought zone, as the RSI already has a value of 72 and continues to grow.
Traders' Sentiment
As the pair eases its pace of advancement, traders start to bet on potential correctional movements. The buy side contracted by 2% and slipped beneath a 50% benchmark. Pending orders segment demonstrates an upside exposure, since 70% of orders are placed to purchase the Euro against the Japanese Yen.
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