EUR/JPY bulls likely to prevail - Technical Analysis - Dukascopy Bank
Fri, 11 Dec 2020 07:11:46 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
38%
37%
2.7%
Shorts
62%
63%
-1.7%
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
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The common European currency rose by 75 basis points or 0.59% against the Japanese Yen on Thursday. The currency pair breached the 126.60 level during Thursday's trading session.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, the EUR/JPY pair could continue to edge higher during the following trading session.
However, a resistance level at 126.80 could provide resistance for the currency exchange rate within this session.
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