EUR/JPY respects 129.93/91

Following a confirmation of the support at 129.93/91 yesterday, EUR/JPY again displays the tendency to move higher. The first resistance the currency is then to hit is situated at 131.24/08. However, further advancement, beyond an additional supply area at 132.45/19, is going to be hampered by the vicinity of the May 22 high at 133.81/78.

The gap between the amounts of long and short positions narrowed down to 12 percentage points, but the dominance of bears (56%) in the market persists. Meanwhile, the shares of buy and sell orders placed on EUR/JPY amount to 52% and 48% respectively.