EUR/JPY buoyed by accelerated up-trend

EUR/JPY continues to respect the accelerated up-trend and is therefore poised for more gains in the future. However, we should note that the currency pair is approaching a tough resistance level at 145.15/04, which is likely to prompt a bearish correction that will probably violate the rising line (it has been guiding the price north since the beginning of November).

Most of the traders continue to doubt the ability of EUR/JPY to maintain its current course and therefore are preparing to profit from the decline in the price—62% of positions are short. Concerning the orders placed, the share of buy ones within 100 pips from the spot grew by four percentage points to 61%.