EUR/JPY reaches triangle's resistance

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 70% 54% 22.86%
Shorts 30% 46% -53.33%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The common European currency reached the resistance of a ascending triangle pattern against the Japanese Yen. The upper trend line of the triangle pattern has kept the pair from surging since the start of July. Due to that reason it is still to be seen whether the various support levels below it will be able to force the Euro through the trend line. Namely the combined support of the 55 and 100-hour SMAs are set to provide support to the rate. Both of the moving levels of significance were located at the 130.16 level at the start of the second part of Tuesday's trading. It is most likely that the currency rate will retreat once more to the mentioned support levels during the next 24 hours.

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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.