EUR/JPY could edge higher - Technical Analysis - Dukascopy Bank
Thu, 07 Jan 2021 07:33:31 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
33%
30%
10.0%
Shorts
67%
70%
-5.0%
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 surged by 87 points or 0.69% against the Japanese Yen on Wednesday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday's trading session.
All things being equal, the exchange rate is likely to continue to edge higher during the following trading session. A breakout through the upper boundary of an ascending channel pattern could occur.
However, technical indicators suggest the 4H time-frame chart. Therefore, the EUR/JPY currency exchange rate could make a brief pullback towards the 126.63 within this session.
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