© Dukascopy Bank SA
- Credit Suisse Group AG (based on Bloomberg)
Pair's Outlook
The Euro repeatedly fell below the major level at 138; although, it bounced back to trade slightly above this level. We do not think that the Euro could slide below the weekly S3 at 137.72 as the level around 138 seems rather well supported. Also the daily technical levels are neutral suggesting that the sideways movement could be expected at the moment. We anticipate the pair to fluctuate in range from the 138 level to 139 level.
Traders' Sentiment
The difference between the amounts of long (47%) and short (53%) positions remains negligible, meaning the EUR/JPY sentiment is still neutral. The gap between the buy (51%) and sell (49%) orders placed 100 pips from the spot is also insignificant for now.
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