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EUR/JPY keeps consolidating between 139 and 140

© Dukascopy Bank SA
"Continued uncertainty surrounding negotiations between Greece and its group of creditors have pushed core DM rates in differing direction." 
- TD Securities (based on WBP Online)


Pair's Outlook 
There were no surprises in the EUR/JPY cross at last week's end. The pair remained relatively unchanged, as the Euro advanced only 15 pips, in spite of experiencing substantial volatility. Technical indicators retain their mixed signals today, suggesting the Euro will continue to consolidate. From below the single currency is supported by the monthly R2, while the Bollinger band provides resistance around 140.80. Nevertheless, a surge beyond 140 is unlikely, while a drop below 139 also has little chance to occur.  

Traders' Sentiment 
Bullish market sentiment remains unchanged at 52%. At the same time, the number of buy commands lost two percentage points and reached a perfect equilibrium.
© Dukascopy Bank SA


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