EUR/JPY retreats from weekly R1

While yesterday the Euro continued to steadily appreciate relative to the Yen, today's trading session was associated with much more volatility and indecision. The currency pair has already managed to test the resistance at 142.91/15 and return back to 141.47/41. Nevertheless, given that weekly and monthly indicators stay mostly bullish, the upward momentum may still be intact.

The gap between the bullish (48%) and bearish (52%) market participants is still minimal—merely four percentage points, meaning the traders are divided regarding future direction of EUR/JPY. Concerning the sell orders, however, their share surged from 51% up to 76%.