EUR/JPY tries to break through weekly R1 again

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 52% 58% -11.54%
Shorts 48% 42% 12.50%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Due to the presence of a strong resistance level formed by the weekly and monthly R1 at 130.57 and 130.72, the currency exchange rate entered into a downfall, which lasted five hours until the pair has reached the 200-hour SMA at 129.65 that was backed additionally backed up by the weekly PP at 129.57. Afterwards, the pair made a rebound and resumed the surge in an attempt to soar to the 130.35 level, which it has reached in the middle of the day. Accordingly, the next goal for the pair would be the above weekly R1 that it had tried to break already four times. Just like yesterday, there are no signs that this attempt might succeed. Thus, beginning of the next week the currency rate is expected to start somewhere between the 130.20 and 130.60 levels.

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