EUR/JPY could target 130.00

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs41%51%-24.1%
Shorts59%49%16.9%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The common European currency dipped by 52 pips or 0.40% against the Japanese Yen on Wednesday. The decline was stopped by the 50– hour simple moving average at 128.00 during yesterday's trading session.

The EUR/JPY exchange rate is likely to edge higher within the following trading session. The potential target for bullish traders would be near the weekly resistance level at 129.86.

However, a resistance line at 129.50 could provide a barrier for buyers during the following trading session.

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