EUR/JPY maintains negative mood

The single European currency moved lower against the Yen on continuing worries over Greece and Spain. If the bearish momentum intensifies further, the initial support level at 99.43 (Initial support line) is likely to be in focus by the bears. Once this barrier is left behind, 98.88 (Lower Bollinger band; S1 Weekly) and 97.73 (S2 Weekly) are going to be exposed to bearish investors.

Traders' sentiment on EUR/JPY has been significantly altered since the last report as the bearish mood intensified among investors: 65% of investors hold short positions, while 35% of investors are bullish on the pair. Over the 100-pip scope, the pair is expected to deteriorate further by 70% of traders.