EUR/JPY closes in on 132.51/09

EUR/JPY remained on a bearish track and slid even lower today, being unable to rise beyond the resistance at 133.81/72. However, the downward momentum might not be fully exhausted yet—there is still some room for the decline, to the up-trend support line at 132.51/09. Then we are likely to witness a start of the recovery that is currently implied by the daily and monthly studies.

Though the most recent price action can hardly be classified as tranquil, the distribution among long and short positions remains the same as yesterday, respectively 47% and 53%. Concerning the orders placed on the pair, 63% of them are to purchase and 37% are to sell the Euro against the Yen.