Japanese Yen, EUR/JPY, GBP/JPY, IG Consumer Sentiment Outlook - Speaking Factors:Japanese Yen beneath str
Japanese Yen, EUR/JPY, GBP/JPY, IG Consumer Sentiment Outlook – Speaking Factors:
- Japanese Yen beneath stress on rising US-China commerce deal expectations
- EUR/JPY could push above 2018 falling resistance on bullish IGCS sign
- GBP/JPY consolidation eyes breakout, positioning outlook turns impartial
Join me on Wednesdays at 01:00 GMT as I cowl what IG Consumer Sentiment is saying concerning the prevailing tendencies in monetary markets!
The anti-risk Japanese Yen has been dropping floor to a few of its main counterparts as of late. Bets of a US-China trade deal just lately pushed the S&P 500 and Dow Jones to report highs, fueling a “risk-on” buying and selling dynamic. The Euro and British Pound capitalized on JPY’s weak spot, eyeing Eurozone CPI and UK Normal Election polling forward respectively. How would possibly dealer positioning affect their path forward?
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EUR/JPY Sentiment Outlook
Having a look at IG Client Sentiment, about 48.11 p.c of merchants are net-long EUR/JPY. That is down from virtually 55% upside bias a few days in the past. Merchants are additional net-short than yesterday and final week.The mixture of present sentiment and up to date modifications affords a stronger EUR/JPY-bullish contrarian buying and selling bias. In different phrases, we’re seeing…