| Positions | Today | Yesterday | % Change | |
| Longs | 60% | 61% | -1.67% | |
| Shorts | 40% | 39% | 2.50% | |
| 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 single European currency depreciated about 150 base points against the Japanese Yen on Wednesday. The decline was temporary stopped by a support level formed by the lower boundary of a descending channel at 127.50.
Everything being equal, it is likely that the currency exchange rate will surge towards a resistance cluster formed by the combination of the weekly S1 and the 50-hour simple moving average at 128.47 within this session.
However, traders are advised to be mindful of their trades, as the EU Main Refinancing Rate macroeconomic data releases scheduled at 11:45 GMT could change the overall positioning of the EUR/JPY currency pair.