EUR/JPY bulls likely to prevail - Technical Analysis - Dukascopy Bank
Wed, 09 Dec 2020 07:24:06 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
42%
39%
5.8%
Shorts
58%
61%
-4.1%
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
Buy
Sell
SAR(0.02;0.2)
Neutral
Buy
Buy
Aggregate
⇒
⇗
⇒
The Eurozone single currency has surged by 55 pips or 0.44% against the Japanese Yen since Tuesday's trading session. The currency pair breached the 50– and 100– hour SMAs on Wednesday morning.
All things being equal, the EUR/JPY exchange rate is likely to continue to trend bullish during the following trading session. The possible target for bulls would be near the weekly resistance level at 127.22.
However, a resistance level at 126.60 could provide a barrier for bullish traders within today's session.
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