EUR/JPY plummets

EUR/JPY has faltered ahead of 120.40/119.94, but the dip should not last for a prolonged period of time, being that there are currently no strong "sell" signals, such as a bearish pin bar. The currency pair is likely to be supported by 117.90/39, but could also decline down to 115.44/28 and yet preserve the bullish outlook as long as the rising trend-line remains intact.

After being stable for a few days the ratio between long and short positions has notably changed, as the share of bulls has grown considerably since yesterday, up to 36%. Regardless, bears so far are in a majority, keeping 64% of the market to themselves. The distribution between buy and sell orders is rather different, being 54% to 46%, respectively.