EUR/JPY likely to breach resistance

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

Positions Today Yesterday % Change
Longs 35% 36% -2.86%
Shorts 65% 64% 1.54%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Buy
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

A resistance cluster near the 132.45 mark, which is formed by the combination of the weekly pivot point and the 55—hour simple moving average is restricting the EUR/JPY pair from making an upward movement.  

During the second half of Monday's trading, the currency pair regained some of its lost points. However, the pair is unable to make any significant movement north.  

Bears' dominance over the currency exchange rate could still be in play during the next sessions, due to the fact that the EUR/JPY pair is still remaining in the descending channel.

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