EUR/JPY likely to edge higher - Technical Analysis - Dukascopy Bank
Mon, 12 Oct 2020 06:55:46 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
45%
42%
6.5%
Shorts
55%
58%
-5.3%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Buy
Buy
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The common European currency surged by 46 basis points or 0.37% against the Japanese Yen on Friday. The 50– hour simple moving average provided support for the currency pair during Friday's trading session.
Technical indicators demonstrate buying signals on the 4-hour, daily and weekly time-frame charts. Most likely, the EUR/JPY exchange rate could continue to edge higher within this session.
On the other hand, the currency exchange rate is likely to make a brief retracement towards the 200– hour SMA at 124.23 during Monday's trading session.
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