EUR/JPY starts trading week below weekly PP

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

Positions Today Yesterday % Change
Longs 54% 52% 3.70%
Shorts 46% 48% -4.35%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

In accordance with expectations, the new trading week the currency exchange rate started near the 129.60 level, which is now located slightly below the updated weekly PP as well as the 200-hour SMA at 129.76. In the first half of Monday, the pair tried to break back to the top, but was stopped by the above resistance barriers that were also accompanied by the 20-hour SMA. On the one hand, this is a sign that the downfall will continue. On the other hand, three William's fractals point out on existence of a mature support level near 129.56, which might stop the drop of the rate. By the way, this barrier simultaneously represents a lower trend-line of an active descending triangle. An existence of this pattern additionally point out in favor of an upcoming rebound.

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