EUR/JPY likely to edge lower

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

Positions Today Yesterday % Change
Longs 61% 59% 3.28%
Shorts 39% 41% -5.13%
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 Neutral Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The single European currency depreciated about 76 base points against the Japanese Yen on Friday. The currency pair breached a support cluster formed by the combination of the weekly and the monthly PPs at 124.34 during Friday's trading session.

Today's session began with a bearish momentum, and by the middle of the European trading session, the exchange rate has dashed through the 200-hour SMA at 124.10.

By and large, it is likely that the currency exchange rate continues to edge lower and potentially aim for a support level at 123.62 during the following trading hours.

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