Dukascopy - Analytics


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    EUR/JPY to return within the channel's walls

    © Dukascopy Bank SA
    "It certainly looks like the euro will trade heavier into the ECB meeting. Despite the bank's efforts to push the euro lower so far, we could still see a significant knee-jerk on Thursday."
    - A dealer with one international bank in London (based on Reuters)

    Pair's Outlook 
    The European currency remained relatively unchanged against the Japanese Yen on Friday, having lost only four pips. Nevertheless, price still opened above the 130.00 major level and even within the descending channel's borders today. The Euro is now attempting to recover from a full week of losses and pierce the immediate resistance in face of the weekly PP. Meanwhile, the channel's lower boundary is supporting the pair at 130.02, with risks of it getting breached still present. Technical indicators, however, retain mixed signals in every timeframe.  

    Traders' Sentiment 
    Exactly three quarters (75%) of all positions are long today, whereas the share of buy orders in outnumbering the sell ones by 2% points.
    © Dukascopy Bank SA

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