EUR/JPY SMAs pushing price south

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 35% 33% 5.71%
Shorts 65% 67% -3.08%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The common European currency is slowly losing ground against the Japanese Yen. The pair tested the 23.60% Fibonacci retracement level during the early hours of Thursday's trading session and bounced back to the south. The pair has formed a new lower low and a lower high. 

 The combination of 55—hour, 100—hour and 200—hour SMAs is providing resistance at 135.58 and pushed the currency exchange rate further south by the middle of Thursday's trading session.  

If the pair passes the support, it will reach for a speculated lower trend line of a medium scale channel down pattern above the 135.00 mark.

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