EUR/JPY fails to overcome 130.30/14

The latest attempt of EUR/JPY to gain a toehold above the 130.30/14 area did not succeed, leading to a sell-off from the levels seen yesterday. Given that there are no notable supports nearby, the currency pair may move towards 128.14/127.86 at an accelerated pace, but is supposed to have a hard time extending the losses beyond this zone, since 127.20/04 is composed of the 200-day SMA and the 2009 lows.

Despite today's depreciation of the Euro, the ratio between the bullish and bearish towards the currency pair traders stays the same, namely 47% of them are holding long positions and 53% are keeping the short ones, although on the whole the popularity of the Japanese Yen is on the decline.