EUR/JPY slightly tended south

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 43% 41% 4.65%
Shorts 57% 59% -3.51%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Buy
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The market has introduced no major changes to the pair's positioning within the last 24 hours. The Euro remained near the weekly PP against the Yen circa 132.20 during this time. The 55-hour SMA started to affect the pair early on Tuesday, thus shifting its direction slightly southwards. 

It is likely that the rate remains near this moving average and the weekly PP for a few hours, but it should eventually allow for bears to overtake the market. A possible downside target is the 131.40 where the two-month low and the bottom channel boundary are located. The monthly S1 is also located nearby. 

In case the bullish sentiment takes the upper hand, the combined resistance of the 200– and 100-hour SMAs at 132.60 is expected to restrict any further advances.

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