© Dukascopy Bank
"Some of the reports coming out of Europe and the Greek vote going through is supportive of the euro in the near term"
- Rochford Capital (based on Bloomberg)
Industry outlook
Failure to overcome resistance level at 111.57 might result in a dip, which is likely to extend down to a support at 108.20. Bullish outlook, nonetheless, should be preserved, as EUR/JPY is headed to 113.29.
Traders' sentiment
SWFX sentiment index on EUR/JPY currency pair is neutral, signifying that the amounts of bullish and bearish trades are nearly the same, being 51 and 49 per cent of the market, respectively.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 110.92, followed by R2 and R3 at 111.14 and 111.47, respectively.
Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 110.37, 110.04 and 109.82.
© Dukascopy Bank