EUR/JPY set for breakout - Technical Analysis - Dukascopy Bank
Thu, 26 Nov 2020 07:21:20 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
65%
71%
-10.3%
Shorts
35%
29%
18.9%
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 37 basis points or 0.30% against the Japanese Yen on Wednesday. The 50– hour simple moving average guided the currency pair during yesterday's trading session.
Currently, the exchange rate is trading near the upper boundary of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 125.00 could be expected within this session.
However, if the channel pattern holds, bears might pressure the currency exchange rate lower towards the 100– hour SMA at 123.80 today.
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