EUR/JPY stopped at 130.46/129.88

Despite a continuous endeavour to breach the resistance at 130.46/129.88, the monthly pivot remains intact, preventing a contact of EUR/JPY with the major rising trend-line. Nevertheless, as suggested by the monthly technical indicators, it should be only a matter of time before the bulls take the upper hand and revitalise the upward momentum.

On the whole SWFX traders' remain undecided regarding the future direction of EUR/JPY, being that the amounts of long and short positions are perfectly equal at the moment. In the meantime, there are more buy orders (60%) placed on the currency pair than there are sell ones (40%).