© Dukascopy Bank SA
- Citigroup Inc. (based on Bloomberg)
Pair's Outlook
EUR/JPY currency pair is little changed as it trades slightly below the monthly PP at 137.75. It seems that the pair have not found a bullish catalyst just yet, but we still remain bullish on the pair. The next bullish target level is at the 138 mark. However, the daily and weekly technical studies are largely negative and that may drag the pair closer to the 137.50 level in the shorter term. Taken all into account, the pair have to close at least above the monthly PP to climb higher.
Traders' Sentiment
A slight majority (56%) of the SWFX market participants remain bearish, meaning they expect the Europe's shared currency to outperform the Japanese Yen.
© Dukascopy Bank SA