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- Anthilia (based on CNBC)
Pair's Outlook
As was anticipated, the weekly PP limited the EUR/JPY's volatility yesterday, as the immediate support allowed the pair to edge lower. However, the 133.00 major level and the weekly PP are now providing support. The European currency is attempting to rebound at the moment of writing, holding above the 55-day SMA. This bullish momentum is expected to fade later today, causing another decline with the breach of the immediate support in face of the weekly pivot point. The second target to limit the losses lies at 132.30, namely the monthly R1.
Traders' Sentiment
Market sentiment reached a perfect equilibrium today, whereas the number of purchase orders declined from 64 to 41%.
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