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"Signs of a pick-up in the pace of growth are certainly supporting the pick-up in risk-seeking among investors"
- Bank of Tokyo-Mitsubishi (based on Reuters)
пЃ® Industry outlook
Current rally of EUR/JPY is not expected to surpass a strong resistance line at 102.55. Therefore the near-term goal for the pair lies at 98.41. Subsequent supports may be found at 94.92 and 88.97.
пЃ® Traders' sentiment
Being that the Japanese Yen is the least attractive currency at the moment, EUR/JPY currency pair is bullish, according to SWFX traders' sentiment. 78.02% of positions are currently long, while 21.98% of them are short.
пЃ® Long position opened
Initial resistance area for the pair is situated at 100.51. Subsequent goals for the bullish market payers may be found at 100.81 and 101.43.
пЃ® Short position opened
Key support for EUR/JPY intraday trading is situated at 99.59. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 99.02 and 98.67.
© Dukascopy Bank