EUR/JPY new pattern formed

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

Positions Today Yesterday % Change
Longs 42% 45% -7.14%
Shorts 58% 55% 5.17%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The common European currency continued to lose strength against the Japanese Yen, and by the end of Tuesday's session, the currency pair had moved back to the junior pattern.

During the first part of Wednesday's trading session, the EUR/JPY exchange rate was consolidating, as traders were indecisive. Meanwhile, a new ascending pattern has been mapped to monitor the price movement.

Everything being equal, it is likely that the currency pair maintains the newly- formed pattern. However, technical indicators stated otherwise.

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