The Euro is up against the Yen ahead of Bernanke's speech

The shared European currency slightly edged higher versus the  Japanese Yen after  the bearish mood slightly eased as investors await the Fed meeting on Tuesday. If bullish mood intensifies, 97.87 (61.80% Fibo) is going to be an initial resistance level among investors. 98.88 (R2 Weekly) and 99.47 (100-day SMA) are likely to be next once an initial level is pierced.

EUR/JPY is being favor by bulls at the moment as 70% of traders have purchased the Euro against Japan's Yen while 30% of market participants anticipate the pair to decline over the short run. 62% of investors foresee a decline in EUR/JPY over the middle term, as the pending order positioning suggests.