EUR/JPY rebounds on Friday

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 46% 45% 2.17%
Shorts 54% 55% -1.85%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The decline of the common European currency on Thursday against the Japanese Yen continued exactly as expected. The currency exchange rate reached the combined support of the 50.00% Fibonacci retracement level and the lower trend line of the active channel down pattern near the 132.00 mark. 

As a result a rebound occurred, which lasted throughout Friday. However, the rebound was about to end, as the pair was being slowed down by various simple moving averages.  

In addition, the pair was set to bounce off the combined strong resistance of the 200-hour SMA, 38.20% Fibo and the channel's resistance near 132.50 level.

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