EUR/JPY extends gains even further

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

Positions Today Yesterday % Change
Longs 41% 35% 14.63%
Shorts 59% 65% -10.17%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell 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

The Euro appreciated 111 pips against the Yen on Tuesday, showing no reluctance before various resistance levels.  

The same bullish sentiment, however seemingly weaker, has guided the pair in this session, as well. By mid-day, the common European currency was lingering near the psychological 134.00 mark. 

Given that the pair has managed to shot up from 132.20 during the past three trading sessions, gains could be extended even further up to the 134.50 level where the 2016/2016 high is located. It is very unlikely that this mark is breached this week; thus, the subsequent move should be either a period of consolidation or a decline. 

Meanwhile, the BOJ is to release its Monetary Policy Statement early on Thursday (time remained tentative).

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