EUR/JPY opens week a with a loss; bulls aiming at 101.64

The shared European currency moved lower today against the Japanese Yen. Yet, if bullish momentum holds, 101.64 (55-day SMA) is likely to become an initial resistance line; once breached, a path towards 102.15 (R1 Weekly; Upper Bollinger band) and 104.55/65 (100-day SMA; R3 Weekly) is going to be cleared.

Presently, the majority of currency traders (68%) keep long positions on EUR/JPY as they anticipate the pair to advance further, whereas 32% of traders anticipate an alternative scenario. Regarding orders positioning on EUR/JPY, the vast majority (64%) of traders stick to a bullish trend continuation.