EUR/JPY approaches 2016 high

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 32% 36% -12.50%
Shorts 68% 64% 5.88%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Neutral
Stochastic (5; 3; 3) Sell Buy Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

An impulse given by the ECB President Mario Draghi's speech was strong enough to push the common European currency through the last notable resistance level formed by the monthly R1 at 126.48. In the result of this fundamental event, the currency pair advanced by 245 basis points and had almost reached the 2016 high, which is located at the 128.18 level. Afterwards, the markets were expected to calm down, but a panel discussion at the European Central Bank Forum forced the pair to shake extensively again. However, today an impact on the currency pair is much lower and varies in a range between 40-60 pips. Due to that, the pair is expected to stay between the above monthly R1 and the monthly R2 at 128.40. By the end of the week, the Yen most probably will restore the lost positions.

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