EUR/JPY possible breakout

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

Positions Today Yesterday % Change
Longs 36% 42% -16.67%
Shorts 64% 58% 9.37%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell 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

The common European currency continued it surge against the Japanese Yen. By the end of Thursday's trading session, the pair had moved past the weekly R1 at 137.11. 

A new junior pattern has been drawn to trail the market movement for a possible breakout. 

Traders need to watch out for a likely breakout through the upper boundary, because the junior channel is too narrow. Based on the Fibonacci sequence, the pair is likely to continue its movement north to test the weekly R2 at 138.66.

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