EUR/JPY likely to gain strength

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

 Positions Today Yesterday Change
 Longs 53% 49% 7.5%
 Shorts 47% 51% -8.5%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Buy Buy Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Neutral Neutral
 Alligator(13;8;5) Buy Buy Sell
 SAR(0.02;0.2) Buy Buy Sell
 Aggregate

The single European currency appreciated about 85 base points against the Japanese Yen on Monday. The currency pair broke a horizontal channel pattern during yesterday's trading session. 

After hitting a swing high of 125.79 on Tuesday morning, the exchange rate started to sink and by the middle of the day, the pair tested the 50-hour simple moving average at 125.75.

By and large, it is likely that the EUR/JPY currency exchange rate aims at the upper boundary of a junior ascending channel pattern at 126.60 during the following trading session.

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