EUR/JPY bounces off 200– hour SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs72%62%13.7%
Shorts28%38%-34.7%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The common European currency surged by 64 basis points or 0.55% against the Japanese Yen on Monday. The currency pair was pressured up by the 200– hour simple moving average during yesterday's trading session.

The exchange rate bounced off the 200– hour SMA support level during the European session on Tuesday. Most likely, the EUR/JPY pair will edge higher today. The potential target would be at the 117.00 area.

However, the upper boundary of an ascending channel pattern could provide resistance for the currency exchange rate during the following trading session.

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