EUR/JPY could edge higher

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs74%64%14.0%
Shorts26%36%-39.9%
Indicator4H1D1W
MACD(12;26;9)4H1D1W
RSI(14)SellSellBuy
Stochastic(5;3;3)BuyBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇘⇒

[ANNOUNCE]The single European currency remained stable against the Japanese Yen on Monday. The currency pair traded below the 122.00 level during yesterday's trading session.
[/ANNOUNCE]
Everything being equal, bullish traders could push the exchange rate higher during the following trading session. The possible target for EUR/JPY pair would be near the 122.99 area.

However, technical indicators demonstrate that the currency exchange rate could continue to edge lower in a descending channel pattern during Tuesday's trading session.

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