EUR/JPY to remain bearish, 95.60 might be hit next

The 17-nation currency moved south versus Japan's yen as currently the pair and at the moment it maintains bearish inertia. As an initial resistance at 97.22 (S1 Monthly; Lower Bollinger band) has been left behind, the next  96.32 (Upper support line; S1 Weekly) and 95.60 (June 1 Low) might be tested next by bearish traders.

Traders' sentiment is bullish on the EUR/JPY currency pair, as the share of long positions outweigh the short ones at the present  (73%/27%). Within 100 points from the latest market price, 76% of investors expect EUR/JPY to fall over the middle term, whereas 24% of traders anticipate a continuation of the rally.