EUR/JPY is at 132.20/09

The support at 132.20/09 remains intact for now, but is on the verge on being breached. If this is the case, then the up-trend line at 131.40, where also the 20-day SMA lies, will have to stop the decline before the currency pair manages to challenge 131.03/130.83. Nevertheless, the technical indicators support the idea that the price is likely move higher from the current levels.

The difference between the amounts of bulls (45%) and bears (55%) has diminished since the last update, but there is still a significant advantage of the latter over the former. Meanwhile, the frequency with which the Japanese Yen is bought in its crosses fell by 7 percentage points to 40%.