EUR/JPY two scenarios likely - Technical Analysis - Dukascopy Bank
Wed, 21 Oct 2020 07:53:16 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
43%
63%
-46.1%
Shorts
57%
37%
34.8%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Buy
Sell
Buy
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Buy
SAR(0.02;0.2)
Buy
Neutral
Buy
Aggregate
⇗
⇘
⇗
The common European currency surged by 72 basis points or 0.58% against the Japanese Yen on Tuesday. The currency pair breached the weekly R1 at 124.64 during yesterday's trading session.
As for the near future, the EUR/JPY exchange rate could continue to trend bullish during the following trading session. The potential target for bullish traders would be at the 125.50 level.
However, if the currency exchange rate breaks the support line at 124.64, a declined towards the weekly pivot point at 123.83 could be expected within this session.
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