EUR/JPY skyrockets to the 55-day SMA

After the news from the Bank of Japan, the Japanese Yen dropped significantly against the major counterparts. EUR/JPY surged from the 100-day SMA to the 55-day SMA, easily overcoming the weekly and monthly pivot points and the 20-day SMA, which was located at 122.07. It is possible to see price's fluctuation between these two major SMAs, since a settlement at one of the sides would imply a strong trade signal.

Bulls re-establish the majority of opened positions, since the buy side enlarged by 3% and reached 53%. Waiting orders segment is heavily occupied by the bulls, since 85% of placed orders are ready to buy the Euro over the Japanese Yen.