© Dukascopy Bank SA
- EU finance ministers (based on Bloomberg)
Pair's Outlook
EUR/JPY is traded in a narrow range around a 132.00 benchmark for almost two weeks. The pair is bounded by the weekly R1 at 132.75 and the weekly S1 at 130.88. Considering stronger movement the price might be suspended at 130.40, where the 20-day SMA is currently positioned, or stopped by the monthly R1 at 133.10.
Traders' Sentiment
Distribution of long and short positions remains skewed to the bearish side, since there are 61% of short positions. Pending orders segment is, however, bullish, as 60% of placed orders are buy and ready to purchase the Euro against the Japanese Yen.
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