EUR/JPY slips to 100-day SMA

An endeavour of EUR/JPY to surge beyond the resistance at 129.91, a combination of the weekly PP and 55-day SMA, seems to have failed, as it plummeted down to the lower edge of the wide but nevertheless dense support area that stretches from 129.00 to 128.22. The pair also nearly reached the up-trend support line that is likely to guide the price north in the longer perspective.

The distribution between those SWFX market participants who believe the single currency will appreciate and those who believe it will depreciate remains the same as yesterday, namely 44% to 56%, even though the price itself is not unchanged, but is inclined to trend downwards.