EUR/JPY decline likely to continue

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs36%41%-12.4%
Shorts64%59%7.1%
Indicator4H1D1W
MACD(12;26;9)4H1D1W
RSI(14)BuyBuyBuy
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇗

[ANNOUNCE]The common European currency declined by 42 pips or 0.33% against the Japanese Yen on Monday. The currency pair tested a support cluster at 127.79 during yesterday's trading session.[/ANNOUNCE]

The exchange rate breached the support cluster formed by the weekly pivot point and the 50– hour SMA on Tuesday morning. Most likely, the EUR/JPY pair will continue to edge lower today.

However, a support line formed by the 100– and 200– hour SMAs near the 126.55 area could provide support for the currency exchange rate within this session.

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