EUR/JPY breaches 50-hour SMA

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Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 62% 57% 8.06%
Shorts 38% 43% -13.16%
Indicator 4H 1D 1W
MACD (12; 26; 9) 0 0 0
RSI (14) 4H 1D 1W
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate ⇘ ⇒ ⇒

[ANNOUNCE]Bullish sentiment dominated the single European currency against the Japanese Yen on Thursday. The currency pair gained about 241 base points during yesterday's trading session.
[/ANNOUNCE]
The exchange rate tested the 50-hour simple moving average at 123.25 during the Asian session on Friday.

Everything being equal, it is likely that the EUR/JPY currency exchange rate continue gaining strength within this session. The possible target will near a resistance cluster formed by the monthly pivot point and the 200-hour SMA at 125.43.

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