Dukascopy - Analytics

    Dukascopy

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    EUR/JPY rebounds from the bottom line

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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 is trading within a narrow up trend since the end of January and the price found a support level at weekly S1, 133.70, respecting the bottom trend line. The cross bulls managed to lift the price up to September 2014 low at 135.94 level. The 55– and 100– day SMAs have crossed Today. In addition, the SMA line seems to form a neutral sentiment.


     Traders' Sentiment
    The pair is being sold by half of the market participants for fifth consecutive trading day. 54% 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 63% of the case.
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