© Dukascopy Bank SA
- ANZ Bank New Zealand (based on The New Zealand Herald)
Pair's Outlook
There were no surprises in the EUR/JPY pair's behaviour. The given cross appreciated on Monday, crossed the 139 major level, with the resistance cluster around 139.25 limiting the gains. Despite the Euro having already tested the 140 psychological level, we expect the pair to edge down today as well, as the resistance might prove too difficult to breach after weak fundamental data. However, there is a possibility of a surge, as technical studies retain their bullish signals. From below the pair is supported by the 20-day SMA and monthly R1 around 137.65, while the nearest significant ceiling lies at 140.26.
Traders' Sentiment
Bearish market sentiment remains unchanged at 52%, whereas the orders are now equally divided between the buy and sell ones.
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