EUR/JPY decline after consolidation

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 46% 42% 8.70%
Shorts 54% 58% -7.41%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Neutral Sell Neutral
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

Bearish sentiment continued to dominate the EUR/JPY currency pair. After a short period of consolidation during yesterday trading session, the rate took a dive further south.

After hitting the 38.20% Fibonacci retracement level, the currency exchange rate made a U-turn south. This retracement can be measured by connecting the low at 129.61 and the high at 131.74.

Technical indicators demonstrate a continuous decline for the currency pair within the following session until it breaches the lower boundary of a dominant channel.

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