EUR/JPY trades flat on Monday

As usual, the majority of pairs are traded flat on Monday and EUR/JPY also fluctuates in a narrow channel today, between 130.90 and 130.20. Considering the global situation, investors' appetite for more risky assets should increase, as the speculation of the end of the U.S. monetary easing did not turn out to be true last week. An upside move should be challenged around a 131.50 level, where the weekly pivot point intersects the 20-day SMA.

Seems that a leading power has changed over the weekend, as bulls have lost the majority and bears have reached a 60% share of opened positions in the market. Pending orders segment is slightly bullish with 53% of buy orders.