EUR/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Wed, 14 Oct 2020 06:41:57 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
49%
44%
11.9%
Shorts
51%
56%
-11.6%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Sell
Sell
Buy
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Sell
Neutral
Buy
Aggregate
⇘
⇒
⇗
The Eurozone currency declined by 61 pips or 0.49% against the Japanese Yen on Tuesday. A breakout occurred through the lower boundary of an ascending channel pattern during yesterday's trading session.
Given that a breakout had occurred, bearish traders could continue to pressure the EUR/JPY exchange rate lower during the following trading session. The potential target would be at the 123.00 level.
However, the currency exchange rate is likely to make a brief retracement towards the 124.20 area in the shorter term.
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