EUR/JPY testing 100-hour SMA

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

 Positions Today Yesterday Change
 Longs 54% 51% 5.6%
 Shorts 46% 49% -6.5%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Buy Sell Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Sell Neutral Neutral
 Alligator(13;8;5) Buy Neutral Sell
 SAR(0.02;0.2) Buy Sell Sell
 Aggregate

The single European currency has appreciated about 92 base points against the Japanese Yen since January 15. The currency pair breached both the 50-, 100– and 200-hour SMAs during Friday's trading session.

The exchange rate is currently testing a support level formed by the 100-hour simple moving average at 124.94.

If this support level holds, bullish traders will try to target a swing high of 125.47 within this session.

On the other hand, if the currency exchange rate passes the 100-hour SMA, a decline towards the 124.40 mark could be expected.

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