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    EUR/JPY slumps after BoJ Kuroda's statement

    © Dukascopy Bank SA
    "With oil lower and China setting a weaker fixing, risk sentiment has been hit. That is taking the yen higher. Also, people are not expecting any intervention by the Japanese before the G20 meeting." 
    - Nomura (based on Business Recorder) 


    Pair's Outlook 
    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. 

    Traders' Sentiment 
    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%.
    © Dukascopy Bank SA

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