EUR/JPY fails to gain pace

Despite a strong bounce form the 2009 high a few days ago, pair failed to gain pace and continues to face high downside risk. In order to uplift most of it the pair should peak at least above 141.53/72. If the pair resumes trailing lower we are likely to see it reaching 138 JPY level soon. That's where median expectation of major market participants is located.

We are seeing bearish tendencies in the market today. Share of bulls in the market decreased by 2%, till 65%, since yesterday. In addition, share of bullish pending orders decreased by 10-25% and is at 32-60% gauge, depending on the range.