EUR/JPY fails to surpass the weekly R1

The EUR/JPY pair started the new week by fluctuating around 146.73 and 146.97 range, showing a bullish candle at the end of the trading day. However, could not advance higher the weekly R1 level at 147.16. The cross will unlikely experience any sufficient changes during the end of this year due to the lack of volatility in the market since the trading volume is mild. In addition, the relative strength index seems to hold a neutral position.

The sentiment continues to be rather bearish, as 53.58% opened positions are short. Meanwhile, the 50 pip buy orders were changed significantly from the previous day from 14 to 64, whereas the 100 pip orders slid from 45 to 30.