EUR/JPY remains near channel line

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

Positions Today Yesterday % Change
Longs 41% 36% 12.20%
Shorts 59% 64% -8.47%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

For the last 24 hours, the pair has unsuccessfully tried to leave the formation three times. Therefore, it is still difficult to project what direction the rate is going to take. On the one hand, it has a support level set up by the monthly PP at 123.89, which might stop the fall in case the rate decides to return back in the channel after all. Moreover, the upper trend-line, which is now additionally strengthen by the 20-, 55- and 100-hour SMAs proved to be a weak barrier, as the rate easily crossed it couple of times. On the other hand, steady returns back into the channel suggest that the pattern could still sustain its momentum downwards.

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