- Bank of Tokyo-Mitsubishi (based on WBP Online)
The 200-day SMA limited the Euro's upside potential and even caused the tide turn. As a result, the EUR/JPY cross sustained a rather serious 69-pip loss. The single currency is expected to weaken again today, with risks of falling to a fresh two-week low today; however, the weekly S1 is providing support at 133.38, which save the given pair from edging too low. Meanwhile, technical studies retain their bearish signals, bolstering the possibility of a negative outcome.
Bulls and bears broke out of the equilibrium, as 43% of all positions are now long and the remaining 57% are short. The number of purchase orders also declined, from 57 to 41%.