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    EUR/JPY attempts to reclaim the 136 mark

    © Dukascopy Bank SA
    "For all the worry about Greece and the future of the euro zone, that is leading people to buy core European assets as a safe haven and that, ironically you might say, supports the euro." 
    - Rabobank (based on CNBC) 


    Pair's Outlook 
    On Friday, the EUR/JPY cross behaved exactly according to the forecast. The pair experienced some volatility, but ultimately, the Euro remained unchanged against the Japanese Yen. Today trade opened significantly lower, after a gap over the weekend. Nevertheless, we expect the single currency to regain that ground and, thus, the target level for today the 136 psychological level. However, the weekly PP lies on the way at 135.54, which is likely to intervene with the rally and could potentially limit the gains. Technical indicators, on the other hand, retain their bearish signals. 

    Traders' Sentiment 
    Bulls grew stronger, as 49% of positions are long today (previously 47%). Meanwhile, the share of buy orders edged up from 20 to 23%
    © Dukascopy Bank SA

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