EUR/JPY again approaches 128.57/52

EUR/JPY spiked down to the level of the weekly and monthly pivot points yesterday, but was able to return afterwards above the 55-day SMA at 129.89. However, today the pair again is being heavily sold off, thus we might soon see a re-test of 128.57/52. Slightly below there are the 20 and 100-day SMAs, along with the rising trend-line and the weekly S1 that together form a tough support zone.

The gap between the amounts of the long and short positions opened on EUR/JPY has somewhat narrowed, since the share of the bulls is now 40%, while bears are in a distinct majority, holding 60% of the market. On average in its crosses the Euro is acquired in 46% of cases.