EUR/JPY likely to make brief retracement

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs72%71%1.2%
Shorts28%29%-3.2%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)NeutralSellBuy
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuySell
Aggregate

The Eurozone single currency appreciated about 0.48% in value against the Japanese Yen on Friday. The currency pair reached nearly the 123.00 marks during Friday's trading session.

The exchange rate was trading near a psychological resistance level at 123.00 during the first half of Monday's trading session.

Most likely, the EUR/JPY currency pair might make a brief retracement towards a support level set by the monthly pivot point at 122.37 today.

If the support line holds, bulls will continue their dominance in the market during the following trading session.

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