Dukascopy - Analytics

    Dukascopy

    485.50 6.00/10
    83% of positive reviews
    Real

    EUR/JPY stuck between 136.30 and 136.90

    © Dukascopy Bank SA
    "Though (a "Yes) outcome would be positive for global risk sentiment, as it reduces the likelihood of any financial contagion stemming from a Grexit, we expect the idiosyncratic euro risks to remain in place." 
    - ING (based on Reuters)

    Pair's Outlook 
    The European currency managed to appreciate against the Yen yesterday, but the 200-day SMA limited the gains and pushed the pair back to 136.42. With the strong cluster around 136.90 still providing substantial resistance, downside movement would not be a surprise, especially if technical indicators are bolstering the negative bias. However, good fundamental data is likely to have an opposite effect and boost the Euro. As a result, trade should remain flat and within the borders of the weekly PP and 55-day SMA. 

    Traders' Sentiment 
    Bearish market sentiment returned to its Wednesday's level of 53% (previously 55%). At the same time, the number of sell orders added six percentage points. The orders now take up 80% of the market.
    © 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