© Dukascopy Bank SA
- Danske Bank (based on CNBC)
Pair's Outlook
Although previously the monthly R2 was able to contain the rally of the currency pair, today the rate jumped above it and is already testing the weekly R1 level. As soon as this resistance gives in, then there will be no significant obstacles between the price and the 2009 highs. However, it may take some time for the resistance at 139.03 to be fully eroded.
Traders' Sentiment
At present we observe a slight preponderance of bearish sentiments in EUR/JPY market—58% of positions are short and 42% of them are long. As for the orders, 68% of them are to purchase the single European currency and 32% are to sell it against the Japanese Yen.
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