EUR/JPY could continue to trade bullish

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs68%62%9.0%
Shorts32%38%-19.3%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellBuy
Aggregate⇒⇘⇒

[ANNOUNCE]The common European currency surged by 88 basis points or 0.76% against the Japanese Yen on Tuesday. The currency pair breached thee 50– and 100– hour SMAs during Tuesday's trading session. [/ANNOUNCE]

The exchange rate will most likely continue to trade bullish within this session. A breakout through the upper boundary of a descending channel pattern could occur.

However, technical indicators suggest that the currency exchange rate might continue to trade in the descending channel pattern during the following trading session.

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