- Mizuho Securities (based on Business Recorder)
The EUR/JPY cross failed to meet expectations on Thursday, as the pair retested the support line, but rebound on speculation that the BoJ is to announce more easing on next week's meeting. As a result, the pair breached the immediate resistance and stabilised on top of the 128.00 level. However, technical indicators remain bearish, implying the European currency is to weaken against the Yen today and return to its trading range between the weekly S1 and the weekly PP. Nonetheless, there is a small opening the pair could fit through, climbing up to the immediate resistance around 128.65.
Today 54% of all open positions are long, compared to 52% yesterday. The share of buy orders added 8% points, up to 48%.