EUR/JPY touched upon 123.29/122.69

EUR/JPY has made another step towards a key support area at 123.29/122.69, intactness of which ensures veracity of our idea that the Euro retains potential to maintain appreciation. Invalidation of this scenario would entail risk of a decline down to 117.90/116.56, where the pair could reattempt to recommence a recovery and top 128.65/127.94 that has been obstructing a rally for the last five days.

The difference between the bulls (47%) and bears (53%) on EUR/JPY has almost completely levelled off, continuing the recent tendency, since both currencies are equally popular in the entire perspective. As for the orders, there is a distinct dominance of the buy orders (71%) over the sell ones (29%).