Dukascopy - Analytics


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    EUR/JPY attempts to rebound from Tuesday's fall

    © Dukascopy Bank SA
    "I think he [Mario Draghi] might have to surprise us in order to really push the euro beyond this sort of stalling block at the moment." - Jane Foley, Rabobank (based on CNBC)

    Pair's Outlook 
    The Euro failed to edge higher for another day yesterday, but the immediate support limited the losses. Technical studies retain their mixed signals today, hence, we expect a correction to take place, with the EUR/JPY rebounding from an even stronger support today, as the Bollinger band is now bolstering the weekly S1. However, gains are likely to be capped somewhere around 131.60, the Monday's closing price, with a slight possibility of the 132.00 major level getting tested again. 

    Traders' Sentiment 
    Today 54% of all open positions are long (previously 46%), whereas the percentage of orders to acquire the Euro also improved, now taking up 51% of the market (previously 40%).
    © Dukascopy Bank SA

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