© Dukascopy Bank SA
- Commerzbank AG (based on Bloomberg)
Pair's Outlook
The Euro started the week by reversing some of Friday's losses against the Japanese Yen, when the pair dropped more than 200 pips. The slump was stopped around the 146 level, after the common currency reached the highest trading level of 2013 at 145.69. The majority of the daily and monthly technical studies point to the upside, thus the current advance might be extended back towards the 148 mark.
Traders' Sentiment
The gap between the amount of buy and sell positions has narrowed to 39% and 61%, respectively. Bullish side of pending orders, however, contracted by 11% and is at 58-60% gauge today depending on the range.
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