EUR/JPY meets another support

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

Positions Today Yesterday % Change
Longs 29% 26% 10.34%
Shorts 71% 74% -4.23%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Buy Neutral Sell
Stochastic (5; 3; 3) Neutral Sell Buy
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The decline of the Euro against the rest of the financial instruments continued on Tuesday. The EUR/JPY currency pair was no exception to the rule. The pair has continued to decline, and by the middle of Tuesday's trading the pair had reached a significant support level. 

Namely, the rate had fallen down to a monthly support at the 134.28 level. It is highly likely that the support level together with the lower trend line of the junior channel down pattern will force the currency pair to stop the decline. 

Due to that reason the situation should be watched closely, as a short lived rebound could occur.

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