EUR/JPY falling wedge pattern

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

Positions Today Yesterday % Change
Longs 62% 60% 3.23%
Shorts 38% 40% -5.26%
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

Downside risks dominated the EUR/JPY currency pair on Thursday. The common European currency ended Thursday's session with about 58 points declined against the Japanese Yen.

The exchange rate is trading near the bottom boundary of a falling wedge pattern and the weekly support level at127.43 during the middle of today's session.

If this support line as mentioned above holds, the currency exchange rate will target the 50-hour simple moving average at the 128.00 mark during the following trading session.

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