EUR/JPY surpass resistance cluster

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

Positions Today Yesterday % Change
Longs 42% 35% 16.67%
Shorts 58% 65% -12.07%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

Following a breakout from a resistance cluster formed by the weekly and the monthly PPs and the combination of the 55-,100–,200– hour SMAs located near the 127.87 mark, bulls took control of the market and managed to push the EUR/JPY exchange rate 137 pips or 1.07% higher.

By the Asian session on Friday, the currency pair pierced a significant resistance which is the weekly R1 at 129.01. Despite technical indicators flash bearish signals today, the rate might dash through the aforementioned resistance level during the following trading session.

In terms of barrier that might hinder the continuous upside movement for the currency exchange rate, is located near 129.78 which is the weekly R2.

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