EUR/JPY could continue to decline - Technical Analysis - Dukascopy Bank
Tue, 27 Oct 2020 06:22:10 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
49%
59%
-22.1%
Shorts
51%
41%
20.9%
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)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇒
⇒
⇗
The common European currency declined by 43 pips or 0.34% against the Japanese Yen on Monday. The currency pair breached the 50– and 200– hour SMAs during Monday's trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for bears would be near the weekly S1 at 123.40.
However, a support line at the 123.60 area could provide support for the currency exchange rate in the shorter term.
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