EUR/JPY re-tests 2017 high

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

Positions Today Yesterday % Change
Longs 34% 41% -20.59%
Shorts 66% 59% 10.61%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Following two sessions of minor consolidation, the Euro picked up some speed today and therefore approached a 2016/2017 high of 134.17 reached on December 21.  

Technical indicators suggest that there is still some upside potential that could be limited by the weekly R3 or the monthly R1 located at 135.32 and 135.02, respectively. 

Given that the pair has failed to accelerate during the previous trading sessions, it is likely that the bullish sentiment is eventually altered in favour of bears within this week. 

On the other hand, a possible fall is likely to be hindered by the 55– and 100-hour SMAs circa 134.40. This barrier should eventually be breached, thus paving the way for a test of the 200-hour SMA.

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