EUR/JPY strong bearish sentiment on Monday

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

Positions Today Yesterday % Change
Longs 31% 28% 9.68%
Shorts 69% 72% -4.35%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The Eurozone single currency spent the first part of Monday's session trading calmly. However, after the exchange rate breached the 55-hour simple moving average, a strong downside momentum dominated the second half of the day thus sending the Euro crashing against the Yen. 

Given that a breakout had occurred through the lower boundary of a dominant ascending channel, the common European currency could be set for a long-term decline.

Everything being equal, the EUR/JPY currency exchange rate is likely to continue diminishing within the next trading session. In the meantime, technical indicators are in favour of bearish sentiment this week.

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