EUR/JPY crosses channel line

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 57% 43% 24.56%
Shorts 43% 57% -32.56%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Buy Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The EUR/JPY had finally chosen a path for future direction. In line with expectations, the rate made a breakout in the upward direction and successfully crossed the upper trend-line of a descending channel. The surge was strong enough to let the pair reach the weekly R1 at 124.96. A release of German fundamental data today allows assuming that surge is going to continue. A change of the direction might happen near the upper boundary of a new ascending channel, which is additionally supported by the weekly R2 at 125.36. On the other hand, the pair hasn't crossed the above R1 yet. Such sudden stop suggests that a rebound might happen as well. In this case, the rate might retreat to the bottom boundary of the short-term ascending channel near the 124.75 mark.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.