EUR/JPY testing 20-day SMA

Pair demonstrated a rather neat rally last week, but at the moment seems to be struggling with 20-day SMA. If this level won't be breached in the nearest future, we should see the pair to be sold off at least till 137.7. In case the manages to advance further, we should see some resistance around indicated levels, but 140 JPY should be perceived as the real target.

For a third day in a row bulls hold 52% of all of the open positions. However, they are continuing to increase the pressure on the short traders. Long share of pending orders expanded by at least 1% and is at 57-64% range depending  on the range around current market price.