© Dukascopy Bank SA
- Vega (based on Bloomberg)
Pair's Outlook
For the time being the upward-sloping resistance trend-line proves to be topical for market participants. Even though intraday rallies did reach the subsequent resistance at 129.86, EUR/JPY was not able to close above 128.85. If the pair still decides to advance (as implied by weekly and monthly indicators), monthly pivot point at 130.60 will also try to impede its up-move.
Traders' Sentiment
Although the volatility in EUR/JPY itself persists, neither bulls (51%) nor bears (49%) do not seem to be willing to give in, meaning that the sentiment remains neutral towards the pair despite a considerable difference in the pairs' popularities in their other crosses. Euro is bought in 42% of trades, while the Yen only in 26% of them.
© Dukascopy Bank SA