EUR/JPY stranded between moving averages

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs57%57%0.0%
Shorts43%43%0.0%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)SellSellBuy
Aggregate

The single European currency depreciated about 59 base points against the Japanese Yen on Tuesday. A breakout occurred through the lower boundary of an ascending channel pattern at the end of yesterday's trading session.

The currency pair is currently stranded between SMAs. The 50– and 100-hour SMAs are providing resistance for the pair at 125.30, while the 200-hour simple moving average is providing support for the rate at 125.05.

Technical indicators flash sell signals on the daily time-frame. Therefore, the decline of the currency exchange rate could continue during the following trading session.

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