EUR/JPY guided by 55-hour SMA

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

Positions Today Yesterday % Change
Longs 43% 43% 0.00%
Shorts 57% 57% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Buy
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

Similarly to yesterday, the common European currency was trading along the 55-hour SMA in this session, as well. Thus, no massive changes to the pair's positioning were made during the previous trading day.  

Given the pair's reluctance to move past this line, it is likely that the rate continues to pressure southwards down to the two-month low of 131.40. It is likely that the Euro narrows its trading range against the Yen late in the evening just to prepare for a surge. 

If looking at the economic calendar, the market might be affected by French and German Flash Manufacturing/ Services data released early on Thursday. 

The upside target should be the weekly PP and the 55-hour SMA circa 132.10.

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