Dukascopy - Analytics

    Dukascopy

    464.50 6.25/10
    83% of positive reviews
    Real

    EUR/JPY short-term climb

    © Dukascopy Bank SA
    "There is a conviction that it will be foreigners who are going to sell bonds to the ECB rather than euro zone investors, and that should have a negative effect on the euro."
    - Rabobank (based on CNBC)


    Pair's Outlook 
    After a rather sharp decline the Euro managed to regain some ground, but was unable to breach the weekly S1 at 133.86. Although the gains were insignificant, they might be erased already this Monday. Technical studies suggest the Euro will appreciate against the Yen in the short run; however, a strong resistance cluster around 134.30 is on the way. Longer time frames indicate a plunge in the EUR/JPY cross, as the weekly technical arrow is pointing directly south. 

    Traders' Sentiment 
    The share of bulls and bears is close to equilibrium today, and only a slight majority of traders (51%) has a negative outlook toward the Euro. At the same time, the number of buy orders slid down to 36%.
    © Dukascopy Bank SA

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree