EUR/JPY soars to May high

EUR/JPY has come up all the way from 132.20/09 up to 133.81 since Sep 17, without encountering any notable resistances. However, considering the currency pair has finally reached the May high, further advancement may proceed at a slower pace, but in the end is still anticipated to extend up to the cluster of the monthly and weekly R2 levels at 134.59/49.

According to the SWFX marketplace traders, the common currency is inclined to lose value relative to the Yen, being that the share of short positions (55%) is currently higher than the percentage of the long ones (45%). Meanwhile, there are more traders willing to buy the Euro (61%) than those who wish to sell it (39%).