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    EUR/JPY keeps going down

    © Dukascopy Bank SA
    "The four installments for the IMF in June are €1.6 billion. This money will not be given and is not there to be given." 
    - Nikos Voutsis, Greek interior minister (based on WBP Online) 

    Pair's Outlook 
    Despite strong volatility to the upside, the EUR/JPY cross still edged down on Friday. The 134.50 level proved to be too difficult to be pierced, forcing the pair to suffer a 70-pip loss. The Yen keeps calling the shots, and the Euro is likely to fall again today. The Bollinger band around 132.84 acts as the closest support, although a fall this deep is unlikely to occur. Moreover, the 133 psychological level has a higher chance in succeeding to stop the pair from going down. Technical studies are showing mixed signs, unable to confirm either outcome. 

    Traders' Sentiment 
    Bulls are now in the majority, taking up 51% of the market, whereas the portion of purchase orders decreased from 63 to 29%.
    © Dukascopy Bank SA

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