EUR/JPY bearish sentiment today

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 53% 52% 1.89%
Shorts 47% 48% -2.13%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The single European currency appreciated about 60 base points against the Japanese Yen on Monday. The exchange rate breached the 200-hour simple moving average at 128.88 during the end of the previous session.

Today's session begins with a bearish sentiment and by the middle of the European trading session on Tuesday, the currency pair has dashed through all three SMAs and a support level formed by the weekly PP at 128.53.

By and large, it is likely that the bearish momentum continues to dominate the EUR/JPY pair within this session and potentially aim at a swing low of 127.60 during the following trading session.

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