EUR/JPY puts pressure on 130.50

As supply around 132 yen was supposed to, it drove the currency pair away from the 14-month trend-line and the 100-day SMA through the recently established accelerated up-trend. The focus is now on the 55-day SMA and weekly PP at 130.58/45, which might not give in next week, but should eventually be broken to the downside. The monthly pivot point at 130 yen will then be the new objective.

The SWFX market is equally divided between the bulls and bears, while yesterday the former took up 55% of the market. In the meantime, percentage of buy orders set 100 pips around the spot price slid from 62 to 41%.