EUR/JPY rally continues

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

Positions Today Yesterday % Change
Longs 42% 41% 2.38%
Shorts 58% 59% -1.72%
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

As expected, the bullish movement continues to be dominating the EUR/JPY pair. By the middle of the European trading session on Thursday the pair already formed a new high at 136.50. 

A resistance cluster near the 137.11 mark, which is made up of the weekly R1 and the monthly R2, is most likely to stop the bullish movement.  

Given that the common European currency has been gaining strength against the Japanese Yen, traders should look for opportunities after the aforementioned encounter.

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