EUR/JPY trades above 143

Today the pair has traded almost exactly at that same range as yesterday, it approached 143.50; although, the pair was not able to break it. Most likely, EUR/JPY is poised to move higher to trade around March high at 143.79, as of now it looks well supported by weekly R2 and major level at 143. We do not think that the pair will remain at current levels for much longer and we see the Euro appreciating against the Yen.

The difference between the long (41%) and short (59%) positions has narrowed since Wednesday. In the meantime, the share of orders to enter the market with a buy trade climbed to 46% from yesterday's 31%.