EUR/JPY breakout occurred

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Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 58% 55% 5.17%
Shorts 42% 45% -7.14%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Neutral Sell Neutral
SAR (0.02; 0.2) Sell Buy Sell
Aggregate ⇒ ⇘ ⇒

[ANNOUNCE]Downside risks prevailed in the market yesterday and thus sent the common European currency to plummet against the Japanese Yen. As a result, the exchange rate breached the lower boundary of an ascending channel.[/ANNOUNCE] 

The decline for this currency pair continued during the European session on Thursday. The 200–hour simple moving average proved to have enough strength to push the EUR/JPY pair further south.

Everything being equal, the currency pair is likely to make a corrective move north for a re-test of the resistance set by the 200-hour SMA.

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