EUR/JPY likely to edge higher

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs45%42%6.5%
Shorts55%58%-5.3%
Indicator4H1D1W
MACD(12;26;9)4H1D1W
RSI(14)BuyBuyBuy
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The common European currency surged by 46 basis points or 0.37% against the Japanese Yen on Friday. The 50– hour simple moving average provided support for the currency pair during Friday's trading session.

Technical indicators demonstrate buying signals on the 4-hour, daily and weekly time-frame charts. Most likely, the EUR/JPY exchange rate could continue to edge higher within this session.

On the other hand, the currency exchange rate is likely to make a brief retracement towards the 200– hour SMA at 124.23 during Monday's trading session.

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