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- Morgan Stanley (based on CNBC)
Pair's Outlook
The EUR/JPY currency pair plunged more than anticipated on Thursday, breaching the immediate support cluster. The cross stabilised only at 133.61, after testing the May low of 133.18. The single currency remains under pressure, while technical indicators retain their bearish signals, suggesting the Euro might fall to a fresh four-month low today. The May low still acts as the immediate support, bolstered by the weekly S2, whereas the monthly S2 supports the given pair slightly lower at 132.63, limiting the intra-day losses.
Traders' Sentiment
Slightly more traders have a positive outlook towards the Euro, namely 46%. The buy and the sell order ratio is now equal to one.
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