EUR/JPY bounces off support cluster at 125.25

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 49% 50% -2.04%
Shorts 51% 50% 1.96%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The Eurozone single currency is gradually gaining strength against the Japanese Yen. The currency pair bounced off its lower boundary of a descending channel on Monday, and as a result, the rate breached the 55-hour simple moving average near the 126.25 mark.

By the middle of the European market on Tuesday, the exchange rate has breached yesterday trading range at 126.76. Moreover, the 55-hour SMA was providing support for the price during the morning hours. 

Technical indicators remain bearish on the daily time-frame, it is likely that the Euro slide lower during the following trading session.

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