EUR/JPY lingers near two-year high

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 26% 25% 3.85%
Shorts 74% 75% -1.35%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The common European currency has maintained a relatively stable position against the US Dollar during the last 24 hours, lingering slightly below the two-year high at 134.03. 

Even though the Euro did not reverse south, it has nevertheless begun its path towards the lower channel boundary. The bullish trend has likewise lost strength, indicating that a re-test of the given line might eventually result in a breakout southwards. 

Meanwhile, the rate still faces the 55– and 100-hour SMAs along the way. It is likely that the pair hinders near the former, as bulls might try to preserve their position above this moving average. The failure to break it on the first attempt should force the rate sideways. The next significant support is the aforementioned 100-hour SMA.

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