EUR/JPY down by 1.19%

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 30% 38% -26.67%
Shorts 70% 62% 11.43%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Buy Neutral Sell
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Contrary to expectations, the Euro broke out from a symmetrical triangle in the downside direction. In the process, the currency rate managed to bypass the medium-term ascending channel's bottom trend-line, the monthly PP and R1 and the weekly S1 and S2. Even though 70% of traders continue to remain bearish on this currency pair, a number of technical indicators suggest that the 128.80 mark represents a point, where the rate became oversold. Due to that, the Euro might restore some of the lost positions and surge towards the above weekly S1 at 129.45. However, this climb upstairs is expected to have a short-term effect, as majority of traders continue to hold short positions. Moreover, now the rate is located below the 55-, 100- and 200-hour SMAs, which will exercise additional pressure and compromise any attempts to clear a path to the top.

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