EUR/JPY breaks resistance

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 33% 30% 9.09%
Shorts 67% 70% -4.48%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Buy
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The EUR/JPY met the goals set on Friday. However, the surge of the Euro against the Japanese Yen went further than previously expected. During the surge the watched junior channel down pattern's resistance line was broken. 

Due to that reason a more throughout review of the larger scale situation and the daily chart was done. It was discovered that the currency exchange rate did not simply encounter the lower trend line of one dominant pattern and a monthly support on Friday.

Instead there exists a more larger, massive scale channel up pattern. The support of that trend line forced the rebound.

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