EUR/JPY decline likely to continue

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs57%59%-3.0%
Shorts43%41%3.9%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The common European currency has continued to edge lower against the Japanese Yen. The currency pair lost about 0.48% in value during yesterday's trading session.

The 50-hour simple moving average could still provide resistance for the exchange rate within this session.

Given that the 50-, 100– and 200-hour SMAs are above the price level and technical indicators suggest bearish signals, most likely, the EUR/JPY currency exchange rate might continue its southern movement during the following trading session.

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