© Dukascopy Bank SA
- Berenberg Bank (based on Reuters)
Pair's Outlook
The Euro has received a bullish impetus once again, the pair has breached the major level at 140 and now is challenging June high at 140.11. Current trading levels are also March and April lows, thus a further appreciation might be anticipated if EUR/JPY consolidates above the psychological level at 140. Currently, the pair is hovering around the weekly R1 and monthly R3 at 140.25/30, thus these are the main resistance for the time being.
Traders' Sentiment
The sentiment still remains unchanged, as slight majority (53%) of the traders think that the Euro has reached it top already. The distribution between the buy and sell orders is also quite stable—54% and 46% respectively.
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