EUR/JPY shoots up during ECB Conference

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 45% 30% 33.33%
Shorts 55% 70% -27.27%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The overall sentiment on Wednesday was strongly bullish for the common European currency. The rate dashed through the 55– and 100-hour SMAs, the monthly PP and the 38.2% Fibo. 

Meanwhile, the ECB Conference mid-today pushed the rate as high as the 131.10 mark, thus passing the 200-hour SMA, the weekly PP and the 23.6% Fibo in a matter of few minutes. 

This surge is expected to allay and consequently relocate the Euro between the 23.6% and 38.2% Fibonacci levels. However, it may still take a few hours before bulls lose their strength.

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