© Dukascopy Bank SA
- Danske Bank (based on Bloomberg)
Pair's Outlook
The currency pair continues to put considerable pressure on the support at 129.80/16, but is not expected to violate it, since the area is formed by a number of studies, including the 55 and 100-day SMAs, weekly S1 and the rising trend-line that in turn has already been in force for a full year. This is why we believe that the nearest resistances (130.95/62 and 132.60/131.93) are the ones at risk of being breached.
Traders' Sentiment
The Japanese Yen, along with the Canadian Dollar, is the least popular currency in the SWFX marketplace, being acquired in 27% of trades in the crosses. Nevertheless, in its pair with the Euro the Asian currency is preferred by far more frequently, in 54% of cases.
© Dukascopy Bank SA