EUR/JPY slips at 130.69/48

Although we were expecting EUR/JPY to rise up to 133.81/56 without much effort, fundamentals have again interfered with the development of the price, throwing it down to 128.57, where the weekly and monthly pivot points are currently stationed. More demand is seen also at 128.17/127.94 and 127.40, this should hold in order for the medium-term outlook on the pair to remain intact.

Yesterday we mentioned a sudden increase in the level of Yen's popularity, but this time the share of the Yen-bulls in the SWFX marketplace expanded by even more percentage points, up to 37%. Particularly in EUR/JPY the portion of short positions (bullish on the Yen) went up to 64%.