© Dukascopy Bank SA
- Societe Generale SA (based on Bloomberg)
Pair's Outlook
The Europe's common currency climbed above the major level at 137 for the third day in a row and it seems that the pair could approach even the monthly PP at 137.76. At the same time the daily and weekly technical studies are giving bearish signals. If EUR/JPY closes above the down-trend's resistance line at 137.25, then a further appreciation towards the monthly PP and 55-day SMA at 137.76/79 is likely.
Traders' Sentiment
The sentiment towards the pair continue to decrease, today the amount of bullish traders reached 41% level, which is the lowest in 12 trading days. The distribution between the buy and sell orders is very significant—16% and 84% respectively.
© Dukascopy Bank SA