- Horst Seehofer, Bavarian state premier (based on Reuters)
The EUR/JPY cross remained relatively unchanged on Tuesday, as it was glued to the weekly R1. The situation today is similar to the yesterday's, with the strong cluster around 137.15 providing substantial resistance and the group of important levels around 135.55 providing solid support. Trade is expected to remain within the borders of those clusters, but the weekly R1 still refuses to let the Euro go, as the currency pair appears to be anchored around it. Technical studies retain mixed signals, thus, we should see the Euro remain unchanged again, with a slight shift to the downside.
Bulls and bears broke out of the equilibrium, as 52% of all positions are long now. The share of purchase orders slid from 72 to 65%.