EUR/JPY tests support cluster at 126.66

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

 Positions Today Yesterday Change
 Longs 46% 57% -23.9%
 Shorts 54% 43% 20.4%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Buy Buy Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Neutral Neutral
 Alligator(13;8;5) Buy Buy Sell
 SAR(0.02;0.2) Sell Buy Sell
 Aggregate

The single European currency depreciated about 91 base points against the Japanese Yen on Monday. The decline was stopped by a support level formed by the 100-hour simple moving average at 126.50 during yesterday's trading session.

The currency pair tested a support cluster formed by the weekly PP and the 100-hour SMA at 126.68 during the first half of today's trading session.

If this support cluster holds, the exchange rate will aim at a swing high of 127.15 within this session.

On the other hand, if the EUR/JPY currency exchange rate passes the support cluster as mentioned above, the next target for bearish traders will be near the 200-hour SMA at 126.20.

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