EUR/JPY breaches dominant pattern

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

Positions Today Yesterday % Change
Longs 31% 38% -22.58%
Shorts 69% 62% 10.14%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The single European currency surpassing the upper boundary of an ascending pattern late on Monday signaled to a continuous rally within the given session. This prediction, however, was abandoned when the pair breached the upper border of a dominant channel and followed by a brief decline.

It is expected that bearish sentiment still pushes the Euro lower during the following trading session until the 55-hour simple moving average or the 100-hour SMA is reached.

Technical signals are located in the overbought zone. Therefore, the EUR/JPY currency exchange rate is likely to decline within the following trading hours.

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