EUR/JPY slows down at 103.5

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
 "If Rajoy backs away from a bailout, then the market will push yields higher but with the (ECB bond buying programme) in place it makes it very hard to trade to the short side at the front end of the curve."
-Rabobank (based on Reuters)

Pair's Outlook
Pair started week positioning itself for major gains, but after loosing all of it yesterday has stabilized and at the moment is hovering around 103.5. Although technical indicators send combined buy signal, it is worth taking in to account the number of neutral signals which allows as to believe that pair might be driven mostly by market sentiment and pair is likely to test 103.13/103 are once again very soon.

Traders' Sentiment
Bears are gaining ground—their share in the market increased by 4% since yesterday reaching 56% to this moment. Slim majority (52%) of pending sell orders does not suggest any major changes in the near future.

© Dukascopy Bank SA
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