EUR/JPY puts more pressure on 127.96/41

Today the currency price spiked up to 129.13 from the rising support line, but was unable to get a foothold above it and as a result, returned back to 127.96/41, intactness of which safeguards the bullish outlook. There is also a support level at 126.98/87, but it is unlikely to play a major role in future fluctuation, such as changing EUR/JPY's direction, but at the same time should not be completely unnoticed.

Being that both currencies are losing their attractiveness among the SWFX marketplace participants, traders' sentiment stays neutral towards EUR/JPY—49% of positions are long and 51% are short. Concerning orders, 54% of them are to acquire the Euro against the Japanese Yen.