EUR/JPY reaches weekly R2

EUR/JPY experiences its best performance in few recent weeks today, as the price steps from a 132.00 benchmark to the weekly R2 at 133.69. After Ben Bernanke's speech there is no any concrete direction, but it seems that investors prefer to buy more risky assets. This pair is not an exception, as the Euro versus the Yen moves towards a three and a half year high, but may also stop at the weekly R2 level at 133.69.

While the pair is at a new high, sellers enter the market and increase their positions substantially. The sell side gained 10% to 68% of all opened positions. Pending orders market is bullish with 61% of orders placed with an intention to acquire the Euro.