EUR/JPY bounces off support

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs40%45%-12.7%
Shorts60%55%8.6%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The Eurozone single currency declined by 33 pips or 0.26% against the Japanese Yen on Tuesday. The decline was stopped by the 200– hour SMA during the previous session.

The exchange rate bounced off a support cluster formed by the 50– and 200– hour SMAs and the weekly pivot point at 129.17 during the Asian session on Wednesday.

Most likely, the EUR/JPY pair could continue to edge higher during the following trading hours. A breakout through the upper line of an ascending channel pattern could occur.

However, buyers are likely to encounter a resistance level at 130.05 today.

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