© Dukascopy Bank SA
- Banco Bilbao Vizcaya Argentaria SA (based on Bloomberg)
Pair's Outlook
Last week the Europe's shared currency declined towards the 136 level; although, this week has started with a opening above this level, around July low at 136.37. EUR/JPY seems to be recovering from the last week's drop; however, very slowly for the time being. The technical indicators do not give any helping hand, as they are neutral. Nonetheless, we expect the pair to appreciate above July low and to climb towards the weekly and monthly PPs at 136.78/85.
Traders' Sentiment
After the sentiment reached 35% on last Thursday it has been recovering, it reached 45% today, indicating that still the majority of traders are sceptical on the pair's rebound. At the same time the gap between the buy (35%) and sell (65%) orders is narrowing.
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