EUR/JPY breaches a 33-month high

EUR/JPY pair recovers its bullish sentiments and continues journey north. The pair has breached a very important level at 123.29, where is a 33-month high located. The Japanese Yen demonstrates a weak position and continues to depreciate against all other counterparts. Even in a daily graph price remains in a bullish trend, but a weekly timeframe signals about a strongly oversold position of the Yen. The RSI indicator has a value of 71 in a daily graph, but has formed many divergences versus the price and in a weekly graph the index has a value of 81.

SWFX market players are strongly bearish towards EUR/JPY, since the buy side has only 31% of positions and the sell side has 69%. Pending orders segment demonstrates softer bearish sentiments, as 42% of waiting orders are long and 58% are short.