EUR/JPY could edge lower - Technical Analysis - Dukascopy Bank
Fri, 27 Nov 2020 07:10:03 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
60%
65%
-7.8%
Shorts
40%
35%
11.7%
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
Sell
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇒
⇒
⇒
The Eurozone single currency declined by 54 pips or 0.43% against the Japanese Yen on Thursday. The currency pair breached the 50– hour simple moving average during yesterday's trading session.
All things being equal, the EUR/JPY pair could continue to edge lower within the following trading session. The potential target would be near the lower boundary of an ascending channel pattern at 123.60.
On the other hand, the currency exchange rate might make a brief retracement towards the 124.40 area within this session.
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