EUR/JPY likely to pass monthly PP at 126.69

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs34%34%-0.7%
Shorts66%66%0.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇗⇒

[ANNOUNCE]The single European currency depreciated about 45 base points against the Japanese Yen on Tuesday. The 50-hour simple moving average provided resistance for the currency pair during the previous trading session.[/ANNOUNCE]

In regards to the nearest future, it is likely that the exchange rate will break the monthly resistance level at 126.69 and make a surge towards the upper boundary of a medium-term ascending channel pattern at 127.33.

However, if the monthly PP at 126.69 holds, the EUR/JPY currency exchange rate will aim for a support line set by the 200-hour SMA at 125.79 during the following trading session.

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