- UniCredit (based on Reuters)
On Wednesday, the Euro advanced versus the Yen. The Euro tested the monthly S1 before settling just under the weekly R1 around 130.45. On Thursday, a correction is likely to take place, and the technical indicators are giving bearish signals. A significant support level rests at 128.71, the present location of the weekly PP. Potentially, EUR/JPY might fully negate yesterday's losses and fall deeper towards the monthly S3.
The share of bulls in the SWFX market increased by one percentage point: 58% of all traders have a positive outlook towards the Euro. The quantity of buy commands decreased, and they account for only 30% of all the commands.