EUR/JPY breakout could occur

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs34%35%-0.9%
Shorts66%65%0.5%
Indicator4H1D1W
MACD(12;26;9)4H1D1W
RSI(14)SellBuyBuy
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate

The Eurozone single currency has declined by 0.59% against the Japanese Yen since December 31. The currency pair breached the 100– and 200– hour SMAs during this period.

As for the near future, the EUR/JPY exchange rate could continue to edge lower. A breakout through the lower boundary of a descending channel pattern might occur during today's session.

However, if the channel pattern holds, a pullback towards the 126.58 area could be expected during the following trading session.

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