EUR/JPY meets weekly pivot point

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs73%69%5.4%
Shorts27%31%-14.3%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)BuyBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellBuy
Aggregate

The common European currency depreciated about 110 base points against the Japanese Yen on Tuesday. The currency pair was pressured south by the 50-hour simple moving average.

Currently, the exchange rate is testing a support level formed by the weekly S3 at 123.13. If this support level holds, the currency exchange rate will aim for a resistance cluster at 124.14 within this session.

However, if the EUR/JPY pair passes the support level, a breakout through the lower boundary of a descending channel pattern could be expected today.

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