EUR/JPY could make brief pullback - Technical Analysis - Dukascopy Bank
Tue, 06 Oct 2020 06:28:54 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
41%
68%
-68.1%
Shorts
59%
32%
46.6%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Buy
Sell
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Neutral
Sell
Buy
Aggregate
⇒
⇒
⇗
The common European currency has surged by 111 points or 0.90% against the Japanese Yen since Monday's trading session. The currency pair breached a resistance cluster at 124.40 on Monday.
Everything being equal, the EUR/JPY exchange rate could make a brief retracement towards the 50– and 100– hour SMAs at 123.88 during the following trading session.
However, a support cluster formed by the monthly pivot point and the weekly R1 at 124.34 might provide support for the currency exchange rate in the shorter term.
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