EUR/JPY stays above 125.08/124.96

EUR/JPY has received a little but still a boost from the interim support level of 125.08/124.96, confirming its relevance in determining the price action. Nonetheless, the possibility of a pull-back down to 123.29/122.78 is not ruled out, though there are currently more arguments that speak in favour of the bullish scenario than in favour of an alternative course of events.

Positioning of the SWFX marketplace participants towards EUR/JPY is unchanged since yesterday, as the distribution between long and short positions is 49% to 51% accordingly. In the meantime, the portion of buy orders has slightly decreased and is now 68%, 73% yesterday.