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- Commerzbank (based on Reuters)
Pair's Outlook
The EUR/JPY closed the week in red, eventually. The pair fluctuated tightly under the 100% Fibonacci level at 134.14 and tested the level three times during the week. If the JPY succeeds in breaking the resistance, the next substantial level to look at is the October 2014 low at 135.586. However, if the EUR will be stronger than its counterpart, the next support is currently placed at November and October 2013 lows at 131.2.
Traders' Sentiment
54% of all the trades are set to buy. The 50– pip pending orders are set to buy for 40% of all traders. However, the 100-pip ones are bought by less than 31% of the market participants.
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