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- Forex.com (based on MarketWatch)
Pair's Outlook
Bullish recovery in EUR/JPY added to gains today as the Eurozone annual CPI figures came in line with analysts' expectations, suggesting the macroeconomic conditions are stabilizing in the region.. If bullish trend to continue further, the pair is likely to test the 101.42 level (Initial resistance line) and 102.08 (R1 Weekly). A breakout here would expose 103.74/53 (55-day ma; R1 Monthly).
Traders' Sentiment
The share of market participants holding long positions changed as 64% of traders are bullish whereas 36% of traders expect the pair to deteriorate further. Within 100 points from the present market price, 64% of investors anticipate eye an appreciation of the Euro against Japan's Yen.
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