EUR/JPY capped by monthly PP

EUR/JPY remains contained between the resistance at 143.25/142.91 and the support at 141.34, meaning that the currency pair is likely to stay directionless in the nearest future. However, considering that weekly and monthly studies are bullish, the supply area located overhead should eventually give in, paving the way towards the rising trend-line at 146.

While the gap between the long and short positions remains stable and at the same time minimal—merely four percentage points in favour of the bears, the share of the buy orders 100 pips from the current price has soared from 36% up to 60% during the last 24 hours.