EUR/JPY could decline today

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs59%66%-11.3%
Shorts41%34%16.2%
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 declined by 45 points or 0.37% against the Japanese Yen on Tuesday. The currency pair breached the 50– hour simple moving average during yesterday's trading session. 

Most likely, the exchange rate will continue to decline within the following trading session. The EUR/JPY pair could target the weekly pivot point at 120.79. 

However, technical indicators demonstrate that the currency exchange rate would continue to trend in the ascending channel pattern during the following trading session.

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