EUR/JPY tests resistance cluster

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

Positions Today Yesterday % Change
Longs 51% 52% -1.96%
Shorts 49% 48% 2.04%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

Downside momentum dominated the EUR/JPY currency pair on Thursday. The single European currency ended yesterday's session with about 130 base points declined against the Yen.

The exchange rate tested a resistance cluster at 128.89 during the first part of Friday's session.

If this resistance cluster holds, the currency exchange rate will target a support level formed by the combination of the weekly and the monthly PPs near the 128.00 mark during the following trading session.

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