Dukascopy - Analytics


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EUR/JPY rebounds from a strong support

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"The euro is fragile, it's like building a castle of cards, if you take out the Greek card the others will collapse." 
- Yanis Varoufakis, Greek Finance minister (based on Reuters )

Pair's Outlook
The EUR/JPY moved lower from the last levels but found a support at the Alligator (13,8,5) line and the 55– day SMA 4- hour cross. The pair rebounded later during the day and the market bulls regained some previous loses. The daily chart shows a doji candle pattern, which means that the pair's traders have not decided where to direct the pair.

Traders' Sentiment
The market found some buyers as 51% currently are holding their long positions. Meanwhile, about more than a half of all traders are interested to sell the pair once it surpasses 50– pips. The 100– pip ones are mostly bought, on the other hand, by 57%.
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