EUR/JPY potential reversal

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

Positions Today Yesterday % Change
Longs 47% 43% 8.51%
Shorts 53% 57% -7.55%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Neutral Neutral Neutral
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The single European currency appreciated about 90 base points against the Japanese Yen on Thursday. The currency pair closed below the weekly S1 at 130.28 during yesterday session.

Everything being equal, it is likely that the currency pair makes a brief pullback towards a support cluster formed by the 50– and 100-hour SMAs at 129.90 within this session.

If this support level as mentioned above holds, the currency exchange rate will reverse from that level and aim at the 200-hour simple moving average at 130.61 during the following trading session.

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