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    EUR/JPY finds support at 131.00

    © Dukascopy Bank SA
    "The start of quantitative easing will be one of the key reasons why the euro will remain soft." 
    - ING Groep (based on CNBC)

    Pair's Outlook 
    The cross declined for the fourth consecutive day last Friday. EUR/JPY easily pierced through the weekly S2 along with the monthly S1 and the Bollinger band before settling above the weekly S3 at 130.96. Nevertheless, the technical indicators are mixed, meaning that there is an opportunity for a correction. Today the Euro may well erase some of the last week's losses. The nearest resistance level lies at 131.84, represented by the monthly S1.

    Traders' Sentiment 
    The portion of bullish traders added two percentage points, and now they account for 59% of the SWFX market. The number of buy orders edged down and now 31% of all commands are set to acquire the Euro.
    © Dukascopy Bank SA

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