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    EUR/JPY takes another crack at the monthly R2

    © Dukascopy Bank SA
    "The yen may not weaken much further on a real effective exchange rate basis." 
    - Haruhiko Kuroda, BoJ (based on WBP Online) 


    Pair's Outlook 
    The European currency remained relatively unchanged against the Japanese Yen. The EUR/JPY cross lost only eight pips, although it did reach the monthly R2 during the trading session. Today, for the first time in at least a week, technical indicators are showing bullish signs rather than mixed. Nevertheless, the pair is still likely to decline due to Yen's morning boost. The monthly R2 retains its role as the immediate support, but the Euro might still stabilise slightly higher at the 140 major level. 

    Traders' Sentiment 
    Bulls and bears have reached a perfect equilibrium today. Meanwhile, the share of commands to acquire the Euro added four percentage points. The orders now account for 45% of the market.
    © Dukascopy Bank SA

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