EUR/JPY two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs27%29%-7.0%
Shorts73%71%2.6%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The common European currency surged by 46 pips or 0.36% against the Japanese Yen on Friday. The currency pair tested the 130.60 level during the Asian session on Monday.

The exchange rate reversed from a resistance level at 130.60 on Monday morning. Most likely, the EUR/JPY pair could continue to edge lower during the following trading session.

However, a support level formed by the 200– hour simple moving average at 130.15 could provide support for the currency exchange rate in the shorter term.

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