EUR/JPY leaves trading range

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

Positions Today Yesterday % Change
Longs 38% 38% 0.00%
Shorts 62% 62% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

EUR/JPY had been stranded in a narrow 133.81/133.52 range for the second consecutive session. The upper boundary was set by the prevailing channel down, while support was provided by the 55-hour SMA. 

This calm movement changed mid-session when the Euro breached the 133.60 mark and fell down to the 200-hour SMA and the weekly PP at 133.30. Given that this area is also reinforced by the 100-hour SMA, bears might be reluctant to push the rate lower. 

Technical indicators point to a possible increase in price during the following 24 hours. The nearest resistance is the upper channel boundary circa 133.75, while the 134.40 mark is regarded as a more probable upside target.

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