EUR/JPY bulls likely to prevail

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs29%30%-0.9%
Shorts71%70%0.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralSellSell
Stochastic(5;3;3)SellNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇒

[ANNOUNCE]The Eurozone single currency surged by 58 pips or 0.44% against the Japanese Yen on Friday. The currency pair breached the resistance level at 132.04 during the Asian session on Monday.
[/ANNOUNCE]
All things being equal, the 50– hour simple moving average could provide support for bullish traders to drive the EUR/JPY exchange rate higher during the following trading session.

However, buyers are likely to encounter resistance near the 133.00 level during this session.

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