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    EUR/JPY begins the week with a slump

    © Dukascopy Bank SA
    "The euro's actually trading rather poorly in the context of any sort of agreement."
    - Deutsche Bank AG (based on Bloomberg) 

    Pair's Outloo
    The EUR/JPY currency pair started yesterday's trading day with a rather sharp decline. Euro pierced through the weekly PP and settled just above the 20-day SMA at 134.66. Hence, this level acted as support and caused the cross to rebound. Moreover, the Euro is likely to ignore the weekly PP level and move further up, with the new resistance now at the monthly PP and September 2014 low around 136. 

    Trader's Sentiment
    There are more bears than bulls among the SWFX traders, but insignificantly, they account for 52% of the market. Buy orders account for the same percentage.
    © Dukascopy Bank SA

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