© Dukascopy Bank SA
- Credit Agricole SA (based on Bloomberg)
Pair's Outlook
The Europe's currency has lost some of its value against the Japanese Yen this week, and as of today the currency pair is trading around the 20-day SMA and weekly S1 at 138.58/50. According to daily and monthly technical indicators, EUR/JPY is likely to rebound from recent declines. We think alike, we expect the pair to appreciate above the 139 mark; however, there also is a possibility that the 100-day SMA and monthly R1 at 137.99/97 will be tested.
Traders' Sentiment
At the moment the amount of bullish and bearish traders is completely identical, thus there is no clear outlook. The distribution between the buy and sell orders is also quite stable—47% and 53% respectively.
© Dukascopy Bank SA