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    EUR/JPY to test 134.65 again

    © Dukascopy Bank SA
    "The Americans are stressing the geopolitical risks and telling us we have to find a solution, that we cannot really put the euro area and Europe at risk because of Greece." 
    - Official close to the discussions (based on CNBC)


    Pair's Outlook 
    The Euro appreciated against the Japanese Yet, but not as much as anticipated. During the trading session the EUR/JPY currency pair reached the immediate resistance cluster, but was pushed back under the 134 area. Ultimately, the pair closed trader at 133.88, which leaves more room for a surge today. The single currency is likely to rally again today, but with gains still limited by the closest resistance cluster around 134.65. Meanwhile, technical studies keep showing mixed signals in the short, medium and long terms. 

    Traders' Sentiment 
    Bulls retook the majority of the market, as 52% of all positions are now long, compared to 50% yesterday. At the same time, the number of orders to buy the Euro slid from 35 to 33%.
    © Dukascopy Bank SA

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