EUR/JPY decline likely to continue - Technical Analysis - Dukascopy Bank
Mon, 02 Nov 2020 07:05:40 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
64%
65%
-1.5%
Shorts
36%
35%
2.7%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Sell
Sell
Buy
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇒
The common European currency declined by 56 points or 0.46% against the Japanese Yen on Friday. The 50– hour simple moving average provided resistance for the currency pair during the previous session.
Technical indicators suggest selling signals on the 4– hour time frame chart. Most likely, the exchange rate could continue to decline during the following trading session.
However, if the EUR/JPY currency exchange rate breaks the 50– hour SMA resistance level, a surge towards the 122.99 could be expected within this session.
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