EUR/JPY is trading flat, 97.93 is still in focus

The single European currency traded flat versus the Japanese yen today. If a bullish trend emerges, 97.93 (61.80% Fibo) is likely to become the first resistance for investors, and if it is successfully pierced, a path towards 98.43 (Upper Bollinger band) and 100.53 (100-day SMA) will be cleared.

Compared to yesterday, bullish sentiment lost some ground as presently 63% of traders expect the pair to continue upward dynamics whereas 37% of investors keep short positions. The order positioning shows that an overwhelming majority of investors (69%) expect the pair to advance further.