EUR/JPY retreats to up-trend support

For the time being the currency pair stays directionless, being unable to gather bullish momentum, which should be provided by the support at 139.03/138.65. The pull-back, however, may extend down to the rising trend-line that currently creates demand area around 137.60, but is unlikely to drag on for a long period of time, since the daily and monthly studies are mostly giving ‘buy' signals.

The portion of open long positions on EUR/JPY slightly diminished—now they take up 39% of the market instead of 41% as it was yesterday. Speaking of the orders, 72% of them are set to purchase the single European currency and 28% to exchange it for the Japanese Yen.