EUR/JPY potential target at 128.42

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

Positions Today Yesterday % Change
Longs 43% 40% 6.98%
Shorts 57% 60% -5.26%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The Eurozone single currency depreciated about 140 base points against the Japanese Yen on Monday. However, the decline was temporary stopped by the weekly S2 at 129.51.

Everything being equal, it is likely that the currency pair continues its downside momentum during the following trading session. The potential target for the exchange rate will be near the weekly support level at the 128.42 mark.

However, it is important to note that yesterday's support level at 129.51 might hinder bearish traders from pushing the currency exchange rate further south within this session.

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