EUR/JPY could edge up - Technical Analysis - Dukascopy Bank

Mon, 28 Oct 2019 08:24:03 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs55%54%1.4%
Shorts45%46%-1.6%
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuySell
Alligator(13;8;5)SellBuySell
SAR(0.02;0.2)SellSellBuy
Aggregate

The common European currency depreciated about 42 basis points against the Japanese Yen on Friday. The currency pair breached the 50-, 100-, and 200- hour SMAs during Friday's trading session.

The exchange rate is currently testing a resistance level formed by the 50—hour simple moving average at 120.62.

If the resistance level holds, a breakout through the lower boundary of an ascending channel pattern could occur within this session.

However, if the currency exchange rate breaches the 50– hour SMA, a surge towards the weekly R1 at 121.10 could be expected today.


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