EUR/JPY double breakout

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

Positions Today Yesterday % Change
Longs 48% 49% -2.08%
Shorts 52% 51% 1.92%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Sell
Alligator (13; 8; 5) Neutral Sell Neutral
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

Bulls managed to regain some of its lost positions yesterday, as the rate bounced off the bottom border of a junior pattern and made a double breakout. The pair breached the upper boundary of both the senior and the junior channel during the close of trading on Monday. 

After reaching the 23.60% Fibonacci retracement level, the currency pair began to decline. However, the decline was stopped by the weekly PP at 130.67. This retracement can be measured by connecting the low at 129.36 and the high at 132.19. 

As for near future, the exchange rate is likely to decline further until it finds support cluster set by the combination of the 55- and 100-hour SMAs.

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