EUR/JPY decreases through the monthly R2

EUR/JPY was moved by the data from China. As GDP figures were disappointing, investors were encouraged to purchase haven currencies, such as the Japanese Yen. Today's news stopped recent appreciation and even reversed the price in a short term. Currently the pair is breaching the monthly R2 level at 128.45 and the weekly S1 at 127.39 is the next support level, considering further depreciation.

Investors have negative sentiments over the pair, as the concentration is on a bearish side - 60% of positions are short. Pending orders segment is not affected by negative economic news and investors keep bullish exposure, since 65% of waiting orders are willing to open a long position.