EUR/JPY possible breakout

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

Positions Today Yesterday % Change
Longs 28% 31% -10.71%
Shorts 72% 69% 4.17%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Friday's trading session went in favour of bears, as the common European currency decline by 60 base points during the end of the day. This decline began after the tested the upper boundary of an ascending trendline.

However, after the EUR/JPY currency pair tested the monthly pivot point at the 130.91 mark, the rate made a U-turn north as a result, the price breached the upper border of the uptrend line.

Given that the currency exchange rate has tested the up border of the ascending channel, a breakout could be expected during the following trading sessions. In addition, the 55-hour simple moving average suggests the uptrends movement is likely to continue within this session.  

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