EUR/JPY likely to rebound

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

Positions Today Yesterday % Change
Longs 62% 57% 8.06%
Shorts 38% 43% -13.16%
Indicator 4H 1D 1W
MACD (12; 26; 9) 0 0 0
RSI (14) 4H 1D 1W
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The common European currency depreciated about 628 base points against the Japanese Yen on Wednesday. This sharp decline was caused by the general strength of the Yen against a basket of major currencies.

The exchange rate has recovered about 1.58% of its values since the starts of today's trading session.

As for the short-term future, it is likely that the Euro will continue its rebound and potentially aim at a resistance cluster formed by the combination of the weekly S1 and the 50-hour simple moving average at 124.45 during the following trading session.

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