Dukascopy - Analytics


    488.50 6.00/10
    83% of positive reviews

    EUR/JPY climbs further

    © Dukascopy Bank SA
    "Every corporate in Europe at this stage has contingency plans in the event of a Grexit. Even (if) it were to take place it wouldn't really be a surprise for the market, so further downside in the euro on that basis is not so obvious."  
    - Commerzbank (based on Reuters)

    Pair's Outlook 
    The Euro rallied for the third day in a row, and the yesterday's gains exceeded the preceding rally. EUR/JPY tested resistance at 128.66, but the trading session ended with the cross stabilising at 128.08. Today the pair is expected to edge up again, with gains limited at 128.66. However, the technical indicators are distinctly bearish on the short and medium time-frames, suggesting a decline. Hence, there is a possibility that some external factors might weigh on the Euro and force it to slide down. 

    Traders' Sentiment 
    SWFX market has more bulls than bears, with 61% of participants being long the common currency. Meanwhile, the share of commands to acquire the Euro declined from 65 to 30%.
    © 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