EUR/JPY bearish momentum today

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) Neutral Neutral Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The Eurozone single began today's session with a bullish momentum against the Japanese Yen. As a result, a breakout occurred through the upper boundary of a descending channel pattern at 124.60.

However, after the breakout occurred, the currency pair began to decline. By the middle of the day, the exchange rate has depreciated about 81 base points.

By and large, it is likely that the currency exchange rate will aim at a swing low of 123.80 within this session.

On the other hand, the pair could reverse from current price level and target a resistance cluster at 124.33.

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