Dukascopy - Analytics

    Dukascopy

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    EUR/JPY tumbles at the end of the week

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    "The letter from the Greek finance minister makes clear that Greece remains interested in support from the European Union ."
     - Christiane Wirtz (based on Reuters)


    Pair's Outlook
    The eighteen nation currency lost some value on Friday against the Japanese Yen and fell to 133.70, weekly S1. During the London session, EUR/JPY fell 0.5% and tried to erase previous losses. The pair seems like to be already out of the bearish flag pattern formed on 25 January 2015. Considering the latest European fundamental news, further selling of the Euro may happen.


     Traders' Sentiment
    The pair have lost some of the bullish market participants since the 50– pip pending orders are generally bearish now with 77% of shot orders. The 100– pip ones, on the contrary are bullish for 56%. Meanwhile, the actual orders are placed to be bearish for 51%.
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