EUR/JPY breakout could occur - Technical Analysis - Dukascopy Bank
Mon, 04 Jan 2021 07:24:54 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
34%
35%
-0.9%
Shorts
66%
65%
0.5%
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 Eurozone single currency has declined by 0.59% against the Japanese Yen since December 31. The currency pair breached the 100– and 200– hour SMAs during this period.
As for the near future, the EUR/JPY exchange rate could continue to edge lower. A breakout through the lower boundary of a descending channel pattern might occur during today's session.
However, if the channel pattern holds, a pullback towards the 126.58 area could be expected during the following trading session.
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