EUR/JPY supported by 50– hour SMA

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs30%29%3.9%
Shorts70%71%-1.7%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralSellSell
Stochastic(5;3;3)SellNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇒

[ANNOUNCE]The common European currency declined by 41 pips or 0.31% against the Japanese Yen on Monday. The decline was stopped by the 50– hour simple moving average during yesterday's trading session.[/ANNOUNCE]

Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, the exchange rate could edge higher during the following trading session.

However, bullish traders are likely to encounter resistance at 132.04 within this session.

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