EUR/JPY challenges 130.46/129.92

Regardless of a slightly more bearish than bullish sentiment among the daily technical indicators, the Euro carries getting stronger due to the fundamental factors. The price has already crossed the moving averages for 55 and 100 days, but has yet to close above them and the rising resistance trend-line to invalidate the negative short-term outlook.

While the Japanese Yen remains one the least preferred currencies in the SWFX marketplace, bought in merely 25% of cases in its crosses, there is no material difference between the bullish (50.5%) and bearish (49.5%) towards EUR/JPY traders. Concerning orders, 45% are to buy and 55% are to sell the Euro.