The Euro is trading flat against the Japanese yen; 95.81 in focus

The pair remains resilient after Mario Draghi's press conference as the EUR/JPY currency pairs is currently trading in a price range of 95.80/96.20. If the pair moves higher, 96.35 (200-day SMA) is likely to be an initial resistance line for bullish investors, a breakout of which would expose 98.23 (55-day SMA) and 99.39 (PP Monthly), respectively.

According to the SWFX Sentiment Index, at the moment bulls are favoring the Euro-Japanese Yen currency pair as the largest number of positions (71%) is long. Regarding order disposition, 63% of investors expect the currency couple to continue moving in the bullish trend.