Dukascopy - Analytics


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    EUR/JPY in tight range between 136.00 and 136.50

    © Dukascopy Bank SA
    "Risk aversion is prompting the buying back of funding currencies such as the euro. Among the majors, the yen, the euro and dollar are bought, in that order." 
    - Aozora Bank (based on Business Recorder)

    Pair's Outlook 
    The EUR/JPY currency pair dropped to the target level of 136.00, but closed trade slightly higher, remaining relatively unchanged over the day. The cross remains bound to its current trading area, namely between the weekly PP and the 55-day SMA from the downside and the 100-day SMA from the upside. Furthermore, technical studies retain their mixed signals and there are no further events to affect the exchange rate dramatically today. A drop under 136.00 is still unlikely, whereas the Euro is expected to undergo a small correction after yesterday's nine-pip decline. 

    Traders' Sentiment 
    Today 62% of traders are long the Euro, compared to 58% on Tuesday. Sell orders added 10% points, taking up 55% of the market.
    © Dukascopy Bank SA

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