EUR/JPY potential reversal

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

Positions Today Yesterday % Change
Longs 46% 53% -15.22%
Shorts 54% 47% 12.96%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The common European currency depreciated about 100 base points against the Japanese Yen on Tuesday. The currency pair breached a support cluster at 128.58 during yesterday's session.

However, Wednesday's trading session begins with a bullish momentum, and by the middle of the day, the EUR/JPY exchange rate had gained about 61 bases points.

Technical indicators flash a sell signal both on the 4(H) and the daily time frames. Therefore, a potential southern reversal could occur at a swing high of 129.00 during the following trading session.

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