EUR/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Tue, 20 Oct 2020 05:58:05 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
63%
60%
5.0%
Shorts
37%
40%
-8.4%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Sell
Sell
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇗
Upside risks dominated the common European currency against the Japanese Yen on Monday. A breakout occurred through the upper line of a descending channel pattern during yesterday's trading session.
Given that a breakout has occurred, bullish traders are likely to continue to push the exchange rate higher during the following trading session. The potential target for bulls would be at the weekly R1 at 124.64.
However, the weekly pivot point at 124.34 could provide resistance for the EUR/JPY currency exchange rate within this session.
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.