© Dukascopy Bank SA
- Mitsubishi UFJ Morgan Stanley Securities Co. (based on Bloomberg)
Pair's Outlook
After relatively calm week, where the Euro outperformed the Japanese Yen, the EUR/JPY has skyrocketed today. The biggest driver for this jump was an informational shock; however, the 55 and 100-day SMA at 137.49/66 was definitely a helpful support. The fact that the pair has added around 250 pips, of course, causes major changes in the previous trading scenario. At the moment, the biggest question is whether the pair manages to consolidate above the psychological level at 140.
Traders' Sentiment
Today's surge has changed the traders' sentiment; however, no dramatically. As of now 54% of the SWFX market participants think that the Euro is overbought.
© Dukascopy Bank SA