EUR/JPY bearish momentum likely to continue

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

Positions Today Yesterday % Change
Longs 45% 47% -4.44%
Shorts 55% 53% 3.64%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

Bearish sentiment dominated the common European currency against the Japanese Yen on Tuesday. A breakout through the lower boundary of a triangle pattern occurred during the end of yesterday's trading session.

Given that the 50-, 100-, and 200-hour simple moving averages are pointing south, it is likely that the EUR/JPY currency exchange rate will continue its decline within this session.

However, it is expected that the pair makes a brief retracement towards the three SMAs at the 128.58 area today.

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