Dukascopy - Analytics

    Dukascopy

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    EUR/JPY fails to surpass the previous day close

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    "The country which has clearly got the capacity to contribute more to domestic demand is Germany and I think Germany has got to do its bit and play its part more than it's done in the past if we are going to succeed." 
    - Ed Balls, chancellor (based on Reuters)


    Pair's Outlook

    The EUR/JPY pair found the previous day close level at 135.00 hard to surpass and the market bears dominated today. The cross strived to retest some of the past strong levels such as the May 2013 high at 133.79. Despite the temporary downward move, the pair could possibly gain some interest from some investors, as the Alligator indicator forms a bullish sentiment.

     Traders' Sentiment

    The traders' sentiment changed from highly bullish to rather bearish, as 51% of all opened trading positions are short currently. 36% of 50– pip pending orders are placed to buy and the 100– pip ones will be sold for 58% of traders.


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