EUR/JPY sandwiched between 20-day SMA and weekly PP

Although according to a majority of the weekly and monthly technical indicators the Euro is going to outperform the Yen, the 20-day SMA still remains intact. Nevertheless, given the current conditions, the sell-off seems unlikely and the overall outlook should stay bullish. The closest support is at 146.43 (weekly PP), followed by the 23.6% Fibo retracement and monthly pivot point at 146.09 and 145.72, respectively.

Though there are relatively more short positions than 48 hours ago (there was an increase from 54 to 55%), the sentiment is rather neutral than bearish, being that the advantage over the long positions is not significant.