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- Andrew Liveris, CEO of DOW Chemical (based on Miami Herald)
Pair's Outlook
EUR/JPY has lot the bullish impulse it received from Mario Draghi's speech last week, and is experiencing a bearish correction on Monday. The pair is currently en-route to Lower Bollinger band at 94.67, where also the weekly S1 is located. In case of a rebound, we are likely to see the pair testing 55-day SMA at 98.23.
Traders' Sentiment
Regardless of the significant bearish correction, the SWFX sentiment index demonstrates an increased number of bulls in the market (81%, up from 74% on Friday). However, 19% of market participants believe that the further downfall of the pair will continue.
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