EUR/JPY guided by 50-hour SMA

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

Positions Today Yesterday % Change
Longs 54% 59% -9.26%
Shorts 46% 41% 10.87%
Indicator 4H 1D 1W
MACD (12; 26; 9) 0 0 0
RSI (14) 4H 1D 1W
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Neutral Sell Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The price movement of the single European currency against the Japanese Yen was guided by the 50-hour simple moving average on Tuesday.

The currency pair tested the 50-hour SMA during the first part of today's session. The exchange rate breached the lower boundary of an ascending channel pattern during the UK's trading session on Wednesday.

As for the near future, it is possible that the Euro move towards a support cluster at 124.74.

Although, if the 50-hour SMA holds, the currency exchange rate could aim for a swing high of 125.33 within the following trading hours.

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