EUR/JPY bullish wave

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

Positions Today Yesterday % Change
Longs 33% 34% -3.03%
Shorts 67% 66% 1.49%
Indicator 4H 1D 1W
MACD (12; 26; 9) Neutral Neutral Neutral
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The single European currency was pressured by bullish sentiment on Thursday. As a result, the exchange rate breakout from the 100– hour simple moving average and the monthly pivot point at 130.10.

During the European trading session on Friday, the 55– and the 100– hour SMAs was providing support for the currency pair. If this support cluster holds, there could be a breakout through the upper boundary of a descending channel within this trading hours.

As for near future, it is likely the EUR/JPY currency exchange rate continues to rally until it finds resistance at 130.97 formed by the weekly PP.  

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