EUR/JPY bulls likely to grow stronger

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

Positions Today Yesterday % Change
Longs 43% 45% -4.65%
Shorts 57% 55% 3.51%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The single European currency was guided mainly by bulls against the Japanese Yen on Thursday who strengthened their positions during the end of US session. Due to the reason, in the Asian opening on Friday, the pair breached a resistance cluster set by the combination of the weekly and the monthly PPs at the 132.67 mark.

The 100– hour simple moving average was providing support for the exchange rate to push higher.

As for near future, it is likely that the EUR/JPY pair continues to surge until it reaches the upper boundary of a junior channel. In addition, technical indicators suggest that bulls are likely to grow stronger within this session.

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