EUR/JPY decline could continue

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs56%67%-19.8%
Shorts44%33%24.9%
Indicator4H1D1W
MACD(12;26;9)4H1D1W
RSI(14)BuyBuyBuy
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The Eurozone single currency has declined by 65 points or 0.53% against the Japanese Yen since yesterday's trading session. The currency pair breached the 50– and 100– hour SMAs on Thursday.

As for the near future, the EUR/JPY exchange rate could continue to decline. A breakout through the lower boundary of an ascending channel pattern is likely to occur within this session.

However, the 200– hour simple moving average at 120.66 could provide support for the currency exchange rate today.

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