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– TD Securities (based on Business Recorder)
Pair's Outlook
Yesterday the European single currency erased all intraday gains and edged lower for the fourth consecutive day, finding support only in front of the 114.00 mark. Nevertheless, the Yen suddenly grew in demand today, amid a spark of risk-off sentiment among investors, causing the EUR/JPY cross to fall dramatically. The weekly S1 at 113.55 is the closest support, but for the moment the 113.20 level appears to be holding the losses. By the end of the day the pair could still climb slightly higher up, possibly even above the weekly S1, but a close in the red zone today is already certain.
Traders' Sentiment
Bullish market sentiment returned to its previous Wednesday's level of 59%, whereas the share of sell orders inched up from 52 to 62 % over the past 24 hours.
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