© Dukascopy Bank SA
- ABN Amro Bank NV (based on Bloomberg)
Pair's Outlook
The pair's bulls have failed to push the pair above the 138 level, as the EUR/JPY cross dipped below the 55 and 100-day SMA around 137.50, after touching the mark. However, the Euro has not dropped considerably lower proclaiming that we might see yet another attack towards the level. The daily and weekly technicals are neutral and that is pretty much what we expect from the pair onwards—moving sideways.
Traders' Sentiment
The distribution between the proponents and opponents of the Euro's appreciation relative to the Japanese Yen remains more or less the same as 24 hours ago—54% and 46% accordingly. In the meantime, the share of buy orders grew from 53% up to 58%.
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