© Dukascopy Bank
- Alan Ruskin, Deutsche Bank AG (based on Bloomberg)
Pair's Outlook
EUR/JPY recovered today, though it is still trading within the 100.20-101.70 price channel, after falling for almost 2 consecutive months. A breakout of the 200-day ma at 104.50 and, if the pair manages to hold above that level, would signal an emergence of the bullish momentum for the pair.
Traders' Sentiment
Disposition of traders on EUR/JPY currency pair is slightly changed since the previous day as 58% of traders are holding long positions (54% yesterday) and 42% of them are staying short on the pair at the moment. Within the 100-pip range, only 55% of market participants expect EUR/JPY to advance, while 45% of traders believes the pair is likely to continue moving south.
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