© Dukascopy Bank
"Short-term impact [of monetary easing by the BoJ] is yen weakness. But I'm not sure that will be sustained"
- Mitul Kotecha at Credit Agricole (based on Reuters)
Industry outlook
Due to inability of the pair to get a foothold above 103.28 the focus has shifted to the immediate support line located at 100.93. In case the latter level is breached, 100.83 (20 day ma) will come into play.
Traders' sentiment
The amounts of long and short positions on EUR/JPY are currently equal. Thus the sentiment is presently neutral on the pair.
Long position opened
Leading market participants, who have entered EUR/JPY market with a buy trade, are expecting to close their positions at the key resistances at 102.89, 103.50 and 103.82.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 101.96, 101.64 and 101.03.
© Dukascopy Bank