EUR/JPY junior pattern takes over

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Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 47% 42% 10.64%
Shorts 53% 58% -9.43%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate ⇗ ⇗ ⇘

[ANNOUNCE]On Monday Dukascopy analysts spotted what was initially though to be a junior pattern on the EUR/JPY currency exchange rate. That pattern has become the dominant one.  [/ANNOUNCE]

As the rate approached the lower trend line of the previous dominant pattern, it did not manage to provide support and was passed.

In the aftermath of the break out a new small scale channel down pattern was noticed. However, it's lower trend line was already being highly contested due to the 100-hour SMA providing support near the 132.40 mark. Due to that reason the decline might accelerate.

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