EUR/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Wed, 02 Dec 2020 07:06:10 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
55%
53%
3.8%
Shorts
45%
47%
-4.6%
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
⇗
⇗
⇒
Upside risks dominated the common European currency against the Japanese Yen on Tuesday. The currency pair surged by 141 pips or 1.13% during yesterday's trading session.
Given that a breakout had occurred, the exchange rate could continue to edge higher during the following trading session. The potential target for the EUR/JPY pair would be at the 127.00 level.
However, the currency exchange rate might make a brief retracement towards the 125.50 area within this session.
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