EUR/JPY pulls back from weekly high

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

Positions Today Yesterday % Change
Longs 51% 41% 19.61%
Shorts 49% 59% -20.41%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Contrary to expectations, the common European currency was driven by strong upside momentum mid-Friday, thus surging 92 pips within four hours. This bullish sentiment halted at the 133.20 mark when risk aversion in Asian equities put upward pressure on the Yen. 

Despite edging considerably lower, the mid-Friday level has not yet been reached. It is likely that the current direction prevails during the following hours; however, the combined resistance of the 200– and 55-hour SMAs circa 132.40 should restrict a further decline. 

Given that no major fundamentals are expected during the following 24 hours, the rate might be located near the monthly PP by mid-Tuesday.

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