EUR/JPY could edge up

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs34%41%-22.5%
Shorts66%59%11.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)NeutralBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇗⇗

[ANNOUNCE]The single European currency surged by 46 pips or 0.36% against the Japanese Yen on Thursday. The currency pair tested a resistance cluster at 127.83 during yesterday's trading session.[/ANNOUNCE]

Technical indicators suggest that the exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be near the 128.40 area.

However, a resistance level formed by the weekly R2 at 127.83 could provide a barrier for bulls within this session.

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