© Dukascopy Bank SA
- Masaaki Shirakawa, Bank of Japan Governor (based on Reuters)
Pair's Outlook
The bullish correction of EUR/JPY has been completely erased as worries of the Euro zone macroeconomic prospects intensified. If
the bearish mood holds, the initial support level at 99.76 is likely to be in focus (Lower support line; Lower Bollinger band). A breach
here would expose 98.40 line (S2 Weekly) and, eventually, 97.34 (January 2012 low).
Traders' Sentiment
The share of bears exceeds the portion of bulls on EUR/JPY by 12%, implying that the current sentiment of traders on the SWFX
marketplace is bearish. Within the 100-pip distance, investors are more bearish, with 71% holding short positions.
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