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    EUR/JPY falls, preserves bearish trend

    © Dukascopy Bank SA
    "The ECB should be very worried about the failure of inflationary pressures to start recovering. There's the potential for them to step up their dovish rhetoric."
    - Rabobank (based on CNBC) 


    Pair's Outlook 
    The single currency appreciated against the Japanese Yen, erasing Tuesday's loss. Although the Euro held strong due to risk appetite, the situation has changed amid a broadly stronger Yen today, forcing the sellers to act. The EUR/JPY cross has already dropped as low as 135.23, breaching the immediate support cluster. Even though the cluster around the 135.00 major level managed to hold the losses for now, risks of it getting pierced persist. The bullish momentum is unlikely to be regained, as a rather strong group of resistance will keep providing obstacles. 

    Traders' Sentiment 
    The gap between long and short positions narrowed from 24 to 2%. At the same time, the share of buy orders declined from 45 to 39%.
    © Dukascopy Bank SA

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