EUR/JPY set for breakout

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

Positions Today Yesterday % Change
Longs 49% 48% 2.04%
Shorts 51% 52% -1.96%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The Euro continues its bullish path against the Japanese Yen, and the exchange rate is gradually moving in an ascending channel.

By the end of the European trading session on Tuesday, the currency pair has moved past the 200-hour simple moving average and also tested the upper boundary of the ascending channel.

A breakout is expected from the bottom of the channel during the next 24 hours. If and when the breakout occur, it is likely to encounter a support cluster set by the monthly PP and the 100-hour simple moving average near 130.58.

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