EUR/JPY tests monthly R2

EUR/JPY slipped lower noticeably in a second straight trading session, as the pair dropped from the monthly R3 at 130.87 after the second attempt to breach the level. Today the pair made a spike reaching the weekly PP at 128.61 and monthly R2 at 128.45. Considering the fact that the recent efforts to post a new high were suspended before a few-year high was reached, might be seen as an absence of bullish impetus and a further appreciation is not likely, at least in the nearest future.

Bulls pulled their sentiments together, as the buy side increased to 49% and already reached an equilibrium. Placed orders market is led by a bullish perspective, as 61% of orders ready to purchase the Euro against the Yen.