© Dukascopy Bank SA
- New View Economics (based on CNBC)
Pair's Outlook
The latest attempt of EUR/JPY to gain a toehold above the 130.30/14 area did not succeed, leading to a sell-off from the levels seen yesterday. Given that there are no notable supports nearby, the currency pair may move towards 128.14/127.86 at an accelerated pace, but is supposed to have a hard time extending the losses beyond this zone, since 127.20/04 is composed of the 200-day SMA and the 2009 lows.
Traders' Sentiment
Despite today's depreciation of the Euro, the ratio between the bullish and bearish towards the currency pair traders stays the same, namely 47% of them are holding long positions and 53% are keeping the short ones, although on the whole the popularity of the Japanese Yen is on the decline.
© Dukascopy Bank SA