EUR/JPY meets 38.28% Fibo

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 52% 54% -3.85%
Shorts 48% 46% 4.17%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The EUR/JPY exchange rate remained stable on Friday, as it was pressured higher by the 55-hour simple moving average and monthly pivot point. The pair reached a three-week high level during the end of the previous session.

After hitting the 23.60% Fibonacci retracement level, the currency pair made a U-turn south. However, the decline was stopped by a support cluster formed by the combination of the 55-hour SMA and the monthly PP at 128.83. This retracement can be measured by connecting the low at 124.93 and the July 31 high at 131.14.

Everything being equal, it is likely that the Euro continue moving in the ascending channel against the Yen during the following trading session.  

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