EUR/JPY fails to surpass resistance

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

Positions Today Yesterday % Change
Longs 39% 38% 2.56%
Shorts 61% 62% -1.64%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Buy
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The common European currency was stranded by the 55-hour SMA during the first half of Tuesday.  

This line was breached mid-session when the pair fell down to the weekly PP. The Euro subsequently tried to move past the 133.35 area; however, the combined resistance of the 100– and 200-hour SMAs and the weekly PP provided a strong barrier. 

From theoretical point of view, the pair is expected to depreciate within the following week in line with the prevailing channel down. However, the following trading hours might still mark a re-test of 133.35. This area is unlikely to be breached. 

Conversely, the nearest resistance is the distant weekly S1 at 132.57. This mark, however, might not be reached in this session, as the 55-day SMA is located at 132.80.

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