EUR/JPY likely to test weekly PP

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

Positions Today Yesterday % Change
Longs 38% 33% 13.16%
Shorts 62% 67% -8.06%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate
The common European currency is gradually losing ground against its Japanese counterpart. The pair tested the 50.00% Fibonacci retracement level during the end of the US trading session on Tuesday and moved back south. This retracement can be measured by connecting the high at 137.50 and the low at 134.00.  

The combination of the 55-, 100-, and the 200-hour SMAs indicates that the EUR/JPY pair could continue its bearish movement.  

Given that the monthly PP at 134.75 was breached, the currency exchange rate is likely to continue falling until it finds support at the weekly pivot point at 132.92.

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