© Dukascopy Bank SA
"Market participants are now paying more attention to the risks surrounding the Greek parliamentary vote [on additional austerity measures] next week"
- RBC Capital Markets (based on MarketWatch)Pair's Outlook
EUR/JPY failed to sustain the rally started this week and dipped ahead of the initial resistance at 104.10. The first support to be encountered lies at 103.39/10, although an extension of a decline is also viable. A lower level could be found at 102.63, while 102.20 will be reached provided that a violation of the up-trend support line is confirmed, which seems to be unlikely given the current context.
Traders' Sentiment
The gap between the amounts of long and short positions has narrowed, as they constitute 41% and 59% of the market, respectively, though the overall sentiment remains bearish towards the pair. As for the orders, 63% are to acquire the Euro and 37% are to sell it against the Japanese Yen.
© Dukascopy Bank SA