EUR/JPY aiming at 143 JPY

Although the pair fails to gain pace, it continues to demonstrate willingness to inch up higher. However, recently formed yearly high seems to have strong effects on the pair and we don not expect the pair to peak above it soon. At the same time, however, we do not anticipate any major dips as well. All in all, the seems very likely to be range bound between 141 and 143 JPY for some time.

Bearish side of open positions is holding stable at the 63% after the weekend (no change). Bulls, however, increased the pressure as their pending orders account for 65% of all of the pending orders, that is 1% more than before the weekend.