© Dukascopy Bank SA
- HSBC (based on Bloomberg)
Pair's Outlook
Yesterday EUR/JPY closed right above the monthly pivot level, but the ground still appears to be shaky for the currency pair, as it has recently failed to rebound from 130.30/14. A few of the daily technical indicators, however, started pointing upwards, though the ‘buy' signal remains quite weak. Meanwhile, the longer-term studies promise a strong rally.
Traders' Sentiment
Tranquillity of the exchange rate passed onto the market participants as well, being that the share of long and short positions are exactly the same as yesterday—47% and 53% respectively. This was not the case for the distribution between the buy and sell orders, the portion of the former plunged from 63% down to 56%.
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