EUR/JPY bounces off support - Technical Analysis - Dukascopy Bank
Thu, 19 Nov 2020 07:28:53 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
64%
59%
7.5%
Shorts
36%
41%
-13.2%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Sell
Sell
Buy
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Sell
SAR(0.02;0.2)
Sell
Neutral
Buy
Aggregate
⇘
⇒
⇒
The common European currency declined by 51 pips or 0.42% against the Japanese Yen on Wednesday. The currency pair tested the lower line of a descending channel pattern at 122.64 during the Asian session on Thursday.
Given that the exchange rate has bounced off the bottom border of the channel pattern, a surge towards the 123.40 level could be expected during the following trading session.
However, a resistance level at 123.20 area could provide a barrier for bullish traders within this session.
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