EUR/JPY faces strong support level

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

Positions Today Yesterday % Change
Longs 47% 45% 4.26%
Shorts 53% 55% -3.77%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The single European currency appreciated about 120 base points against the Japanese Yen on Tuesday. This surge was briefly stopped by a resistance cluster formed by the monthly pivot point and the 100-hour simple moving average at the 128.95 area.

As for the short-term future, it is likely that the currency exchange rate continues to move south towards the weekly S2 at 127.71 during the following trading session.

However, a support cluster formed by the weekly S1 and the 50-hour SMA at 128.36 could hinder the EUR/JPY exchange rate from hitting the given target today.

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