EUR/JPY sets for breakout - Technical Analysis - Dukascopy Bank
Tue, 17 Nov 2020 07:56:42 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
59%
60%
-2.3%
Shorts
41%
40%
3.3%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Buy
Buy
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Sell
SAR(0.02;0.2)
Neutral
Buy
Buy
Aggregate
⇒
⇗
⇒
The common European currency declined by 62 basis points or 0.50% against the Japanese Yen on Monday. The currency pair tested the 123.67 level during yesterday's trading session.
Currently, the exchange rate is trading near the upper boundary of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 124.60 area could be expected within this session.
However, if the channel pattern holds, bears are likely to pressure the currency exchange rate lower towards the 123.20 level during the following trading session.
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