EUR/JPY could edge higher

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs74%72%2.6%
Shorts26%28%-7.6%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The single European currency depreciated about 61 base points against the Japanese Yen on Friday. A breakout occurred through the lower boundary of an ascending channel during Friday's trading session.

As for the near future, it is likely that the EUR/JPY currency pair will edge higher during the following trading session. Bullish traders could aim for a resistance level formed by the 200-hour SMA at 122.31.

However, the 50-hour simple moving average at 122.06 could prevent bulls from making some gains within this session.

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