- Nomura (based on Business Recorder)
The European currency weakened against the Japanese Yen on Monday, with the exchange rate stabilising slightly beyond the Bollinger band, as was anticipated. Technical studies retain bearish signals, while BoJ Kuroda's remarks only contributed to more bearish momentum today. The nearest support cluster is failing at providing sufficient demand. As a result, the EUR/JPY currency pair might close near the 123.00 major level, which in turn is bolstered by the weekly S2.
Although not as strong as yesterday, but market sentiment remains bullish at 58% (previously 60%). At the same time, the percentage of orders to buy the Euro declined from 81 to 57%.