EUR/JPY overcame 130.30

EUR/JPY managed to close above 130.30 yesterday, but still remains hesitant to advance towards the resistance at 131.70/26, where the rally is supposed to face the upward-sloping trend-line. The currency pair may stay indecisive for some time, considering that daily and weekly technical indicators are largely mixed, but in the longer-term perspective the Euro should follow a bullish path.

The gap between the amounts of long and short positions is the same as yesterday—the former continue to constitute 46% of the market, the latter are in an insignificant majority with 54% of all positions. On average the Euro is acquired in 40% of cases, while the Yen is purchased in 34% of trades.