EUR/JPY stumbled upon 126.45

EUR/JPY did not post two consecutive days of gains, being rejected by 126.45, but is still well-positioned to maintain the upward course. There is still some distance left to cover until the major resistance at 127.94 and the daily technical indicators give "buy" signals, suggesting that the prospects, at least in the near term, are positive and the bullish impetus did not completely peter out.

The gap between the bulls (47%) and bears (53%) has narrowed even more, as hesitation in the market is increasing amidst an absence of a decisive move by the currency pair. As for the orders, there is a pronounced prevalence of traders who are willing to acquire the Euro (72%) against the Japanese Yen.