EUR/JPY plummets after ECB statement

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

Positions Today Yesterday % Change
Longs 25% 40% -60.00%
Shorts 75% 60% 20.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The bullish signals that were predicated yesterday regarding the EUR/JPY currency pair did not come into reality. The reason for this is because of the ECB monetary policy decision. Although the actual number hit forecast, comments made by the European Central Bank President Mario Draghi of continuous lower interest rate and end of the stimulus program weighted heavily on the Eurozone single currency.

As a result, the currency exchange rate lost 263-pips during the previous trading session.

Everything being equal, it is likely that the price movement retraces north toward the weekly pivot point at 128.96 within the following session.

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