EUR/JPY bumped into 130.74

EUR/JPY surged up to the resistance at 130.74 already yesterday, but it is unlikely the currency pair will traverse this level without a delay, retaining the possibility to descend to either the 55-day SMA at 129.77 or the combination of the 20-day SMA and weekly pivot point at 129.45/37. Still, as long as the up-trend support, currently between 128.57 and 128.19, is intact, the outlook is to stay bullish.

There is virtually no difference between the amounts of long (48%) and short (52%) positions opened on EUR/JPY, meaning that the market is currently mixed in its sentiments towards the pair, although on average, in their other crosses, the Euro is acquired more frequently (in 46% of cases) than the Japanese Yen (in 35% of cases).