EUR/JPY freezes at yesterday's close

Trading of EUR/JPY continues to take place above the upper Bollinger band, though the currency pair, as noted yesterday, is already showing some signs of weakness ahead of the resistance at 131.47/130.86. Being that the price has successfully closed above 128.44/73, this area should now provide support for extension of the recently started rally, according to the change of polarity principle.

Willingness of the pair to step higher reduced the share of bearish towards EUR/JPY traders, who now constitute 51% of the market (56% yesterday). The difference between the amounts of buy and sell orders has narrowed as well, as the portion of the formed decreased to 74% from 85%.