EUR/JPY: Shorts favoured but still need to respect important support levels
- Weekend win in Japanese regional elections by opposition parties will worry Yen shorts;
- Overall positioning still running at extreme levels;
- The topping formation which we started watching last week is still looking very plausible;
- Support levels will be firm starting at 140.50 but a break back below 140.00 could be critical on a number of levels (technical, psychological, and positioning).