Dukascopy - Analytics

    Dukascopy

    469.25 6.25/10
    83% of positive reviews
    Real

    EUR/JPY respects the trend

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    "In agreement with significant concessions for Greece may raise the perception of risks in Spain, resulting in significantly greater downside risk for the euro." 
    - Jefferies (based on Reuters)


    Pair's Outlook
    The EUR/JPY pair proceeds to trade within an up trend and the price slid below the weekly Pivot point at 135.24. Yet, the cross was little volatile on Monday with mild trading volume. In case of a further appreciation of the Euro versus the Yen, a next resistance level should persist at October 2014 low level at 135.586. The downside scenario is limited by the trend bottom line at 134.552.


    Traders' Sentiment
    The pair is being sold by half of the market participants for fifth consecutive trading day. 53% of all are willing to buy the pair, though, once it declines 50– pip to the downside. Meanwhile, the 100– pip pending orders are placed to buy for 61% of the case.
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