EUR/JPY continues to fight 130.30

This is already the seventh consecutive day EUR/JPY is attempting to climb over the monthly pivot point at 130.30, and eventually it is expected to succeed, considering that monthly technical studies favour such a course of events. Once this hurdle is overcome, then a bullish trend-line at 131.67/26 will oppose extension of the rally and is likely to slow down Euro's pace of appreciation.

The bearish SWFX market participants have enhanced their advantage over the bulls, since the share increased by another two percentage points and now amounts to 54% of the total amount. Nevertheless, the difference is still negligible, meaning that on the whole the sentiment remains neutral.