EUR/JPY breakout occurs

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs51%53%-3.1%
Shorts49%47%3.2%
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralSell
Alligator(13;8;5)SellBuySell
SAR(0.02;0.2)SellSellBuy
Aggregate

Downside risks dominated the common European currency against the Japanese yen on Thursday. The currency pair depreciated about 109 basis points during yesterday's trading session.

Given that a breakout had occurred through the lower boundary of an ascending channel pattern, the EUR/JPY exchange rate might continue to fall until it reaches a support level at 119.98.

If the support level holds, a surge towards the 120.73 regions could be expected during the following trading session.

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.