EUR/JPY remains near 122.91

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs49%54%-10.5%
Shorts51%46%10.0%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇒

[ANNOUNCE]The common European currency edged higher by 71 basis points against the Japanese Yen. The currency pair breached the weekly R1 at 122.32 during yesterday's trading session. [/ANNOUNCE]

Currently, the exchange rate is trading near a resistance cluster formed by the weekly R2 and the monthly R1 at 122.98.

From a theoretical point of view, the EUR/JPY pair might make a downside reversal from the resistance level, as mentioned earlier.

However, technical indicators demonstrate that the currency exchange rate will most likely continue to edge higher in the short-term future.

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