Euro remains weak against Yen

Note: This section contains information in English only.
Source: Dukascopy Bank SA
"The Japanese Yen soared in Asian trade as regional share prices declined, offering a familiar lift to the standby anti-risk currency."  
- Ilya Spivak (based on DailyFX) 

Pair's Outlook 
EUR/JPY continues to extend its losses during today's trading session, demonstrating that risk-averse investors are hedging against possible downward risks pressuring the Euro. The pair has managed to breach the weekly S1 and is currently trading below the lower Bollinger band and the 200-day SMA. The Euro is targeting the weekly S2 at 117.44 and the monthly S2 at 117.26. Yesterday's prediction about possible reversal still persists, as technical oscillators have reached the oversold area. In addition, the lower Bollinger band might provide solid support at 117.90. 

Traders' Sentiment 
Traders' sentiment remains bullish, with 54 of traders holding long positions. In addition, 55% of pending orders are to buy the pair.
© Dukascopy Bank SA
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