EUR/JPY flashes mixed signals on Tuesday

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

Positions Today Yesterday % Change
Longs 53% 51% 3.77%
Shorts 47% 49% -4.26%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The common European currency managed to breach the medium-term descending channel on Monday, even despite being restricted by the 200-hour SMA and the 38.2% Fibonacci retracement. Thus, the rate respected the boundaries of the junior channel and reached its upper line circa 132.70.

The pair demonstrated high volatility in this session, but nevertheless was fluctuating around the above resistance cluster by mid-Tuesday. 

Technical indicators flash mixed signals about the pair's direction during the following 24 hours. Thus, two scenarios should be mentioned. First, the Euro might remain in the range between the 100– and 55-hour SMA and the 50.0% Fibo. Second, a more likely option favours the rate pushing towards the weekly R1 at 132.87.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.