EUR/JPY breaks channel pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs46%48%-5.2%
Shorts54%52%4.4%
Indicator4H1D1W
MACD(12;26;9)4H1D1W
RSI(14)SellBuyBuy
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate

The common European currency declined by 39 basis points or 0.31% against the Japanese Yen on Monday. The currency pair breached the lower boundary of an ascending channel pattern during yesterday's trading session.

Given that a breakout had occurred, the exchange rate could continue to edge lower during the following trading session. The potential target for the EUR/JPY pair would be at the weekly S1 at 125.00.

However, technical indicators suggest that the currency exchange rate could slide higher within this session.

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