EUR/JPY stranded between 55– and 100– hour SMAs

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 48% 42% 12.50%
Shorts 52% 58% -11.54%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The European common currency managed to bounce off the lower boundary of a channel down on Wednesday, appreciating gradually against the Yen ever since. In general, no strong movements up or down are apparent today, demonstrating the almost equal force of bulls and bears. The exchange rate was stranded between the bounds of the 55– and 100-hour SMAs for the whole morning session, except for a brief move below the former. Both levels are reinforced by the outer Bollinger bands and the 23.6% Fibo from the upside and the weekly S1 from the downside. Thus, taking into account the strength of both boundaries, the pair should remain within the given bounds in this session in case no strong market movers disrupt the pair's motion sideways.

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