EUR/JPY stays at its close

Yesterday EUR/JPY closed right above the monthly pivot level, but the ground still appears to be shaky for the currency pair, as it has recently failed to rebound from 130.30/14. A few of the daily technical indicators, however, started pointing upwards, though the ‘buy' signal remains quite weak. Meanwhile, the longer-term studies promise a strong rally.

Tranquillity of the exchange rate passed onto the market participants as well, being that the share of long and short positions are exactly the same as yesterday—47% and 53% respectively. This was not the case for the distribution between the buy and sell orders, the portion of the former plunged from 63% down to 56%.