EUR/JPY tests weekly R2 at 122.88

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs71%74%-3.1%
Shorts29%26%7.7%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuySellSell
Aggregate⇗⇘⇘

[ANNOUNCE]The Eurozone single currency bounced off the 50% Fibonacci retracement level at 121.70 on Wednesday. As a result, the currency pair appreciated about 85 base points during yesterday's trading session.
[/ANNOUNCE]
The exchange rate is currently testing a resistance level formed by the weekly R2 at 122.88.

If the currency exchange rate breaks the weekly resistance level as mentioned earlier, a surge towards a swing high at 123.18 could occur.

On the other hand, if the weekly R2 holds, a retracement towards a support cluster formed by the 50– and 100-hour SMAs at 122.18 might be expected.

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