EUR/JPY bounces off support

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs75%71%4.1%
Shorts26%29%-12.0%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuySellSell
Aggregate

The single European currency depreciated about 47 base points against the Japanese Yen on Thursday. The currency pair tested the lower boundary of an ascending channel pattern at 122.29 during the Asian session on Friday.

As for the near future, it is likely that the EUR/JPY currency pair will aim for a swing high at 122.88.

If the currency exchange rate passes the swing high as mentioned above, bullish traders could push the prices towards the 123.40 area during the following trading session.

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