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    EUR/JPY bounces off 130.55

    © Dukascopy Bank SA
    "The euro is under pressure as markets see recent events as destabilising, and increase the uncertainty over the European economic outlook." 
    - ANZ Bank New Zealand (based on Business Recorder) 

    Pair's Outlook 
    The EUR/JPY found support in front of the 132.00 major level on Friday, as was anticipated. The Yen got boosted by risk aversion today, pushing the given pair down to the cluster around 130.55, but then regained momentum and is now making attempts to return above 132.00. Trade opened on top of the weekly S1, which is helping the cross remain afloat, but it is uncertain whether the Euro's current strength will be sufficient to close above the target major level. Technical studies are giving bearish signs, suggesting the exchange rate could return into the red zone today. 

    Traders' Sentiment 
    Bears are outnumbering the bulls by 2% points, whereas the number of purchase orders edged higher from 35 to 52%.
    © Dukascopy Bank SA

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