© Dukascopy Bank SA
- Gubtram B. Wolff, director of Bruegel (based on NY Times)
Pair's Outlook
EUR/JPY is on the upside today, attempting to pare yesterday's losses before the pair declines to test the Lower Bollinger band near 93.46. The first significant target for bulls stands at the 20-day MA (96.70). However, in case of a trend change closer to the end of day, we are likely to see a sharp fall towards monthly S2 at 92.84.
Traders' Sentiment
The SWFX sentiment on EUR/JPY has balanced out perfectly with 50% of traders believing in each of potential scenarios. However, such a sharp sentiment change can potentially trigger a continuous bullish movement and pare the previous weeks' losses. Traders should pay decent attention to fundamentals coming from EZ when trading this pair.
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