EUR/JPY recovers amid geopolitical tensions

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 33% 37% -12.12%
Shorts 67% 63% 5.97%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Global geopolitical tensions during the weekend weighted heavily on the EUR/JPY currency pair, as risk-averse traders transferred their money into the Yen. As a result, the given pair opened at the 200-hour SMA circa 130.20, compared to its closing price at 130.80. 

The Euro has since recovered from the sudden drop in price and is approaching the 55-hour SMA at the 130.73 mark. It is likely that the rate continues to appreciate in this session, setting the 131.00 area—reinforced by the 100-hour SMA and the bottom wedge boundary—as a possible upside target. 

Meanwhile, the 200-hour SMA should support the Euro in case no new North Korean developments occur.

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