EUR/JPY could edge up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs58%57%2.6%
Shorts42%43%-3.6%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralNeutralNeutral
SAR(0.02;0.2)SellBuyBuy
Aggregate

The Eurozone single currency appreciated about 50 basis points against the Japanese Yen on Wednesday.

The currency pair is currently trading near the upper boundary of a descending channel pattern at 120.19.

The EUR/JPY will most likely dash through the border of the descending channel pattern within this session.

However, if the channel pattern holds, a decline towards the monthly pivot point at 119.67 could be expected during the following trading session.

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