EUR/JPY could still edge lower

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs57%53%6.5%
Shorts43%47%-8.5%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)BuySellSell
Aggregate⇒⇘⇘

[ANNOUNCE]During yesterday's trading session, the Eurozone single currency declined by 84 pips or 0.69% in value against the Japanese Yen. The currency pair breached the weekly support level at 119.61 on Wednesday. [/ANNOUNCE]

Everything being equal, the EUR/JPY exchange rate will most likely continue to decline. The potential target for bearish traders would be near the weekly S2 at 119.15.

A possible upside reversal could follow from the weekly support level at 119.15 before the end of today's trading session.

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