EUR/JPY recovers loses

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 35% 42% -20.00%
Shorts 65% 58% 10.77%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Following a minor appreciation during the most part of Monday's trading session, the Euro plunged against the Yen late in the evening, thus resulting in a 82-pip fall in two hours.

The aforementioned fall halted at the 55-hour SMA which allowed the rate to re-test the 130.87 mark once more. Technical indicators demonstrate the prevalence of bulls, suggesting that a test of the weekly and monthly R1s near 131.50 is a likely scenario. 

Given the ability of the 55-hour SMA to support the pair for the last week, the rate should remain in the 130.00/131.50 area. 

However, traders anticipating US fundamentals mid-tomorrow may start to shake the market already before their official release.

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