© Dukascopy Bank SA
- Pacific Investment Management Co. (based on Bloomberg)
Pair's Outlook
The European shared currency touched the 20-day SMA at 137.13 earlier today, after falling to the lowest level this year at 136.17 yesterday. We expect the pair to appreciate towards the monthly PP at 137.73 and later to reach the major level at 138. The monthly technical indicators are also bullish, with that in mind we see the pair breaking not only the weekly PP at 137.49, but also the previously mentioned monthly PP.
Traders' Sentiment
The sentiment towards EUR/JPY has remained more or less the same as yesterday with 54% of the market participants expecting the Euro to outperform the Yen. The distribution between the buy and sell orders is less stable—43% and 57% respectively.
© Dukascopy Bank SA