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- Global-info Co (based on Reuters)
Pair's Outlook
The EUR/JPY cross remained relatively unchanged over the last 24 hours, having slumped only 15 pips. From the technical point of view no significant changes occurred over the day, with the outlook towards the Euro still being negative. The 55-day SMA keeps weighing on the given pair, providing resistance on top of the opening price, whereas the 20-day SMA is the nearest lower border. Demand at 124.63, namely at the 20-day SMA, however, is not as strong as at the second support cluster around 124.10, represented by the weekly PP and the monthly S1. Meanwhile, technical indicators retain their bearish signals, bolstering the possibility of a decline today.
Traders' Sentiment
There are 67% of all open positions being long today, whereas 79% of all pending orders are to acquire the Euro, up from 59% on Monday.
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