EUR/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Wed, 16 Dec 2020 07:28:09 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
35%
37%
-5.2%
Shorts
65%
63%
2.8%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Sell
Buy
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇘
⇗
⇗
The common European currency declined by 61 basis points or 0.48% against the Japanese Yen on Tuesday. A breakout occurred through the lower boundary of an ascending channel pattern during yesterday's trading session.
Given that a breakout has occurred, bearish traders could continue to drive the exchange rate lower during the following trading session. The potential target for bears would be at the 125.00 area.
However, the weekly support level at 125.58 could provide support for the currency exchange rate within this session.
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