EUR/JPY breaches support cluster

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

Positions Today Yesterday % Change
Longs 36% 38% -5.56%
Shorts 64% 62% 3.13%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

Downside risked dominated the EUR/JPY currency pair on Thursday. The common European currency ended yesterday's session with about 83 base points declined against the Japanese Yen.

The exchange rate breached the lower boundary of a long-term ascending channel at 131.05 during the first part of Friday's session. 

Given that the currency exchange rate has tested a support cluster at 130.98, the next target for the price will be at the lower boundary of a one-week descending channel at 129.50.

On the other hand, if the support cluster as mentioned above holds, the rate could aim at the 100-hour SMA near the 131.50 mark within this session.

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