EUR/JPY bulls likely to prevail

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs38%37%2.7%
Shorts62%63%-1.7%
Indicator4H1D1W
MACD(12;26;9)4H1D1W
RSI(14)BuyBuyBuy
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇗

[ANNOUNCE]The common European currency rose by 75 basis points or 0.59% against the Japanese Yen on Thursday. The currency pair breached the 126.60 level during Thursday's trading session.[/ANNOUNCE]

Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, the EUR/JPY pair could continue to edge higher during the following trading session.

However, a resistance level at 126.80 could provide resistance for the currency exchange rate within this session.

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