EUR/JPY hangs at 113.81

EUR/JPY has been moving sideways recently, being underpinned by support near 113.81. Presumably, additional areas of active buying are to manifest themselves at 113.02, 112.36 and 111.68/28. Together they should retain positive outlook if the pair approaches them. On the other hand, a serious test of the bullish momentum is likely to take place at 117.29/90, a cluster of several notable levels.

Appetite for the Euro has slightly diminished, but is found more commonly than appetite for the Japanese Yen, as the ratio between long and short positions on EUR/JPY is 56% to 44%, respectively. The situation observed with pending orders is neutral, where 49% of them are to buy the single currency and 51% are to sell it against the Yen.