EUR/JPY breaches 50-hour SMA

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

 Positions Today Yesterday Change
 Longs 53% 51% 4.5%
 Shorts 47% 49% -5.2%
       
 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) Buy Sell Sell
 Aggregate

The 50-hour simple moving average pulled down the Eurozone single currency against the Japanese Yen on Friday. The pair depreciated about 0.42% during Friday's trading session.

The currency pair started Monday's trading session with an upside movement. By the middle of the day, the EUR/JPY pair has breached a resistance level at 124.94.

As for the near future, it is likely that bullish traders push the currency exchange rate towards a resistance cluster formed by the weekly PP and the 100-hour SMA at 124.80.

However, technical indicators suggest that the pair will continue its southern movement today.

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