| Positions | Today | Yesterday | % Change | |
| Longs | 34% | 33% | 2.94% | |
| Shorts | 66% | 67% | -1.52% | |
| Indicator | 4H | 1D | 1W | |
| MACD (12; 26; 9) | Sell | Sell | Neutral | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Neutral | Neutral | |
| Alligator (13; 8; 5) | Sell | Sell | Buy | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ⇓ | ⇘ | ⇗ | |
The EUR/JPY currency pair has been moving in a narrow ascending channel since early May. The Euro bounced off the lower boundary of a junior channel on May 8 and has since surged against the Japanese Yen. The price movement was supported by the 200– hour simple moving average at 130.50.
Given that the exchange rate has breached a resistance formed by the weekly R1 at 131.20, it is likely that the pair could edge higher during the following trading session.
Meanwhile, the currency exchange rate has moved closer to the up border of the junior pattern and could be set for a breakout. However, technical indicators suggest another scenario, it favour bears to grow stronger within this session.