EUR/JPY two scenarios likely - Technical Analysis - Dukascopy Bank
Wed, 25 Nov 2020 07:43:57 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
75%
-4.7%
Shorts
29%
25%
11.7%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Buy
Buy
Buy
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The common European currency surged by 67 points or 0.54% against the Japanese Yen on Tuesday. The currency pair tested the upper line of an ascending channel pattern at 124.46 during the Asian session on Wednesday.
If the channel pattern holds, bears could pressure the exchange rate lower during the following trading session. The possible target would be near the 50– hour SMA at 123.87.
However, if the currency exchange rate breaks the ascending channel pattern, a surge towards the weekly R2 at 125.05 could be expected within this session.
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