EUR/JPY could edge lower - Technical Analysis - Dukascopy Bank
Tue, 08 Dec 2020 07:38:42 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
39%
42%
-7.4%
Shorts
61%
58%
4.8%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Buy
Buy
Buy
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The common European currency declined by 53 basis points or 0.42% against the Japanese Yen on Monday. The currency pair breached the 50– and 100– hour SMAs during yesterday's trading session.
As for the near future, the EUR/JPY pair could continue to edge lower. The exchange rate is likely to target the lower line of an ascending channel pattern at 125.30 during the following trading session.
However, the weekly pivot point at 125.76 could provide support for the currency exchange rate in the shorter term.
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