EUR/JPY breaches junior ascending channel

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

Positions Today Yesterday % Change
Longs 59% 60% -1.69%
Shorts 41% 40% 2.44%
Indicator 4H 1D 1W
MACD (12; 26; 9) 0 0 0
RSI (14) 4H 1D 1W
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Neutral Sell Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The single European currency appreciated about 151 base points against the Japanese Yen on Friday. The currency pair tested a one-month high level of 125.30 during Friday's trading session.

The exchange rate breached the lower boundary of an ascending channel pattern at 124.69 during the first half of Monday's trading session.

Given that the currency exchange rate has breached the given channel pattern, it is likely that the pair will aim for a support cluster formed by the combination of the 200-hour simple moving average and the monthly PP at 124.45 today.

However, a support level set by the 50– and 100-hour SMAs at 124.52 could hinder such movement.

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