EUR/JPY sets for bearish momentum

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 42% 49% -16.67%
Shorts 58% 51% 12.07%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Buy Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The EUR/JPY currency pair breached a short-term ascending channel and reached the monthly PP at 128.34.  

Currently, the rate is testing the 55– and 100-hour SMAs near the 129.10 mark. Bearish momentum is expected to continue within this session, and two potential targets for the pair could be given monthly PP and the support level formed by the weekly S1 and the Fibonacci 50.00% retracement near 128.00. 

It is the unlikely case that some bullish pressure still prevails in the market, the Euro should not exceed the weekly PP and the 200-hour SMA at 129.47.

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