EUR/JPY lost momentum ahead of monthly PP

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
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Pair's Outlook

EUR/JPY stalled after rallying from the 55-day SMA and hitting the monthly pivot point afterwards, meaning the bearish correction of the up-move started in November may drag on. However, given that the supports such as the monthly S1 and the 2009 highs remain intact, the risks are heavily skewed to the upside. Moreover, the weekly and monthly indicators are mostly giving ‘buy' signals.

Traders' Sentiment

While yesterday the market remained undecided with respect to EUR/JPY's prospects—the amounts of longs and short were perfectly equal, today there are slightly more bears (57%) than bulls (43%). As for the orders, the share of buy ones 100 pips from the spot price plummeted from 87% down to 54%.
© Dukascopy Bank SA
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Thu, 16 Jan 2014 16:45:32 GMT

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Thu, 16 Jan 2014 07:53:32 GMT

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Thu, 16 Jan 2014 07:53:23 GMT

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