EUR/JPY decline insight

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

 Positions Today Yesterday Change
 Longs 54% 51% 5.6%
 Shorts 46% 49% -6.5%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Buy Sell Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Sell Neutral Neutral
 Alligator(13;8;5) Buy Neutral Sell
 SAR(0.02;0.2) Buy Sell Sell
 Aggregate

The common European currency appreciated about 79 base points against the Japanese Yen on Tuesday. The currency pair has revealed a new junior ascending channel pattern.

After hitting the upper boundary of the junior ascending channel at 125.53, the exchange rate made a pullback down.

Most likely, the currency exchange rate will continue its decline towards a support level at 124.80 within this session.

If the support level holds, a potential bullish sentiment could be introduced during the following trading session.

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