- Nomura (based on Reuters)
Surprisingly, the EUR/JPY cross declined sharply on Thursday. The single currency breached the 20-day SMA and even the 100% Fibo with the weekly S1. Nonetheless, the pair settled at 133.68, which is notably lower than the initially anticipated stop. Moreover, technical studies suggest that the pair will continue declining and any gains will be temporary, with short-term indicators being bearish, and the weekly ones pointing directly south. The nearest targest are 132.36 and 131.17.
The share of Euro-bulls decreased from 48 to 46%, with bears enhancing their advantage. Moreover, the sell orders are also prevailing among all pending orders with 62%.