- Ed Balls, chancellor (based on Reuters)
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.
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.