- Jupiter Independent Funds Team (based on Reuters)
Although the EUR/JPY currency pair reached the support cluster around 135.45, trade still closed higher at 136.07. The cross refuses to drop below the 136.00 major level, while gains are being limited by a tough resistance cluster around 136.45, represented by the weekly S1, 55 and 100-day SMAs. The given pair requires a significant event, a market mover, in order to budge from the current trading area. The Euro is expected to remain relatively unchanged for the second day in a row, as technical indicators suggest in the short, medium and long terms.
Bearish traders' sentiment remains unchanged at 52%, whereas the share of purchase orders inched up from 43 to 57%.