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- Mariano Rajoy, Spain's Prime Minister (based on CNBC)
Pair's Outlook
The single European currency slumped yesterday against Japan's yen but today it is attempting to stabilize. If a bullish reversal occurs, 101.58 (55-day SMA) might become the first resistance level for bulls. If a bullish momentum holds further, a path towards 102.15 (R1 Weekly; Upper Bollinger band) and 104.55/65 (100-day SMA; R3 Weekly) will be open.
Traders' Sentiment
Sentiment on EUR/JPY, remains bullish as each of the types constitutes 71% of the market and for now the 17-nation currency is the most popular relative to its major counterparts. A completely different situation is observed with orders placed on the pair as the vast majority (78%) of orders are short.
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