EURUSD : Data from retail traders shows that 54.61% of traders are net buyers with a buy-to-sell ratio of 1.20. The number of net buyers is 9.88% higher than yesterday and 51.84% higher than last week, while the number of net sellers is 22.36% lower than yesterday and 36.83% lower than last week.We often have a contrarian view to market sentiment, and the data suggests that the EUR/USD price may continue to decline. Net buying activity has increased compared to yesterday and last week, indicating a stronger bearish trend in line with current sentiment and recent changes.
EURJPY : The Bank of Japan's meeting today saw no change in interest rates, but a shift in their Yield Curve Control (YCC) program. The BoJ stated that their ongoing policy is to keep 10-year JGB rates within a fixed range of -0.5% to +0.5%, which is now a 'reference' rather than a 'hard limit'. This has led to higher JGB yields and a stronger Japanese Yen. The combination of a weaker Euro and a stronger Yen has caused the EUR/JPY exchange rate to decrease. The currency pair has broken out of its short-term upward trend channel this week and has once again rejected the support level. It is currently trading at a low of 151.42, which is expected to be retested in the coming days.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.