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- IHS Global Insight (based on CNBC)
Pair's Outlook
On Thursday, the European currency appreciated against the Japanese yet and reached the Tuesday's opening price. However, the EUR/JPY cross keeps trying to edge lower, as the monthly S1 was tested again earlier today. The monthly S1 is now also bolstered by the weekly one, increasing the chances of preventing the pair from falling down today. Meanwhile, the 20 and 200-day SMAs are providing resistance around 135.15, whereas technical studies are suggesting the given pair is to remain relatively unchanged today.
Traders' Sentiment
The gap between long and short positions narrowed, as 49% of traders are long the Euro, while the remaining 51% are short. The percentage of buy orders dropped dramatically, from 61 to 29%.
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