EUR/JPY likely to edge lower

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

Positions Today Yesterday % Change
Longs 60% 60% 0.00%
Shorts 40% 40% 0.00%
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 Sell
Aggregate ⇒ ⇘ ⇘

[ANNOUNCE]The common European currency appreciated about 70 base points against the Japanese Yen on Wednesday. The currency pair breached the 50– hour simple moving average at 126.05 during yesterday's session.[/ANNOUNCE]

Everything being equal, it is likely that the currency exchange rate edges lower within this session. The potential downside targets will be near a swing low of 125.75.

Although, a support cluster formed by the combination of the monthly S1 and the 50-hour SMA at 126.05 could prevent the EUR/JPY currency pair from falling today.

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