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EUR/JPY regains ground

© Dukascopy Bank SA
"Given all the measures that have been introduced by the ECB and signs of bottoming in data, there is a good chance Mr Draghi will give a more upbeat assessment of the economy." 
- IG Securities (based on WBP Online)


Pair's Outlook 
The single European currency advanced and ended Friday's trading session right on the monthly S2 at 129.84. Most recently, the pair has been extending its gains; however, ECB's President speech later today might turn the tide for the Euro. The technical studies are only bolstering a bearish outcome, suggesting a decline towards the weekly PP at 129.55. At the sam time, if Mario Draghi's testimony in Brussels turns out to be hawkish, the Euro might advance up to 131.16. 

Traders' Sentiment 
There are more bulls (59%) than bears among the SWFX traders, whereas the buy orders take up 71% of all the pending commands in the market.
© Dukascopy Bank SA


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