© Dukascopy Bank SA
- Daiwa (based on CNBC)
Pair's Outlook
The Euro declined against the Yen for the fourth consecutive day. The weekly S1 was unable to stop the fall around 129.00, and the Euro dropped even lower, towards the Bollinger band at 128.60. On Friday, even though the technical indicators are giving mixed signals, the cross is likely to extend the retreat for a fifth day. The nearest support level is the Bollinger band at 128.17, but the pair is expected to move closer to the weekly S2 and settle around 128.00.
Traders' Sentiment
Sentiment among the SWFX traders slightly improved, as 55% of traders are long the Euro (previously 53%). At the same time, the number of orders to purchase the single currency remained unchanged at 31%.
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