EUR/JPY downside risk possible

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 46% 46% 0.00%
Shorts 54% 54% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Buy
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The bearish momentum has guided the common European currency down against the Japanese yen. By the end of Thursday's trading session, the currency pair has reached a nine-month low at 129.02.

The EUR/JPY exchange rate introduced no significant change during Friday's session. However, the rate has moved to the bottom border of a channel down and could be set for a breakout.

According to technical indicators, some downside potential is still possible within this trading session.

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