EUR/JPY bounces off support - Technical Analysis - Dukascopy Bank
Tue, 01 Dec 2020 08:18:36 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
53%
54%
-1.6%
Shorts
47%
46%
1.7%
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)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The 50– hour simple moving guided the Eurozone single currency against the Japanese Yen on Monday. The currency pair made about 65 basis points move or 0.52% during yesterday's trading session.
The exchange rate bounced off from a support cluster formed by the 50– and 100– hour SMAs at 124.46. Most likely, the EUR/JPY pair could edge higher within this session. A breakout through the upper boundary of an ascending channel pattern might occur.
However, if the channel pattern holds, a decline towards the weekly pivot point at 124.02 could be expected today.
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