EUR/JPY surges on fundamentals

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 36% 57% -58.33%
Shorts 64% 43% 32.81%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Buy Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

In line with expectations, the common European currency continued to surge against the Japanese Yen. The reason behind the surge, which easily pushed the pair through the channel as well as the weekly R2 at 125.36 and R3 at 126.01, was expectedly attributed to fundamental events. More specifically, to Draghi's words that "the threat of deflation is gone". Now, the currency rate is expected to reach the monthly R1 at 126.48 and try to bypass it. There are no other barriers that can prevent the pair from achieving this goal. On the other hand, if the markets calm down and the rate fail to break through this barrier, it will start to move horizontally, being squeezed between the two pivot points.

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