| Positions | Today | Yesterday | % Change | |
| Longs | 62% | 60% | 3.23% | |
| Shorts | 38% | 40% | -5.26% | |
| Indicator | 4H | 1D | 1W | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Neutral | Buy | Neutral | |
| Alligator (13; 8; 5) | Sell | Sell | Sell | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ⇘ | ⇘ | ⇒ | |
The common European currency has been moving in a narrow descending channel against the Japanese Yen since the second half of October. This decline started after the currency pair hit the upper boundary of a long-term descending pattern at 130.00.
The exchange rate breached the upper boundary of the narrow channel at 127.64 during the morning hours of today's session.
Given that a breakout had occurred, bullish traders could push the currency exchange rate towards a resistance level formed by the 200-hour simple moving average at 128.70 within the coming hours.