EUR/JPY edges higher on Monday

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 51% 46% 9.80%
Shorts 49% 54% -10.20%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Buy Sell Buy
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The Euro started its session calmly on Friday; however, two massive leaps to opposing directions mid-session disrupted the rate's hindrance slightly below the monthly PP, pushed it up to 132.70 and subsequently back in the 132.50 area.  

This resistance level was held convincingly until Monday morning when the Euro pushed for the 100-hour SMA circa 132.40. 

The given currency has reached the upper boundary of a medium-term channel—a level that intersects with the 200-hour SMA and the 38.2% Fibonacci retracement. 

Given the general declining slope of the pair, it might fail to overcome this resistance cluster and consequently remain near the aforementioned channel boundary until Tuesday.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.