EUR/JPY remains in 1 Yen range

Pair tumbled today and is testing Fibonacci retracement at 97.937. It is unlikely the pair will breach this level due to major psychological pressure as quite a few market participants expect to see a pullback till the end of the trading week.  

Week seems to be closing down at traders being in perfect balance—equal amount of traders keep long and short positions open. However, in the range of 100 pips from current market price 92% of traders have posted buy orders, indicating we might start a new week with major shift in trader sentiment.