EUR/JPY remains below 143 JPY

Pair continues to consolidate recent losses and continues to hover below the 143 JPY. We expect such trend to persist further in the nearest future. Short term dips and peaks remain possible. However, we do not expect it to fall below the 140.26 or rise above 144.56 with ease. Dip or peak outside these levels could provoke a major rally /sell off.

 

The only noticeable change in indications of the market sentiment since yesterday is the fact that share of short pending order's increased from 43% till 64%. Distribution of open positions is where it was yesterday—51% long, 49% short.