EUR/JPY likely to decline

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs57%53%6.5%
Shorts43%47%-8.5%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)BuySellSell
Aggregate

The common European currency versus the Japanese Yen traded between the 50– hour simple moving average at 119.92 and the weekly support level at 119.61 on Tuesday.

The currency pair is currently trading near a resistance level formed by the 50– hour SMA at 119.92.

If the resistance line holds. The EUR/JPY exchange rate will likely trade south within this session.

However, if the currency exchange rate breaks the 50– hour SMA, a surge towards the 120.20 area could be expected today.

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