- Mizuho Bank (based on Reuters)
The EUR/JPY currency pair overperformed on Thursday, as it went over the 133 level. At the end of the day, the cross added 173 pips and settled just under the 134 psychological level. Technical indicators keep showing mixed signs, while the pair is expected to extend the surge for the ninth consecutive day today. The nearest resistance lies at 135.64, namely the 38.20% Fibonacci retracement, although the Euro will doubtfully reach that high. The 135 psychological level is the most probable target to be reached.
The long/short ratio is now equal to one (50%). Meanwhile, the portion of buy orders added 14 percentage points; exactly three quarters of all commands are now to acquire the Euro.