| Positions | Today | Yesterday | Change |
|---|---|---|---|
| Longs | 59% | 61% | -3.4% |
| Shorts | 41% | 39% | 4.9% |
| Indicator | 4H | 1D | 1W |
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
Bullish momentum dominated the single European currency against the Japanese Yen on Wednesday. The currency pair surged by 190 basis points or 1.60% in value during yesterday's trading session.
Everything being equal, bullish sentiment could continue to pressure the exchange rate higher during the following trading session. The potential target will be near a resistance cluster formed by the weekly R2 and the monthly pivot point at the 120.93 area.
However, the EUR/JPY exchange rate is expected to make a brief downside retracement towards the weekly PP at 119.36 in the shorter term.