EUR/JPY decline likely to continue - Technical Analysis - Dukascopy Bank
Thu, 14 Jan 2021 06:21:15 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
30%
31%
-0.6%
Shorts
70%
69%
0.3%
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 48 pips or 0.38% against the Japanese Yen on Wednesday. The currency pair breached the weekly support level at 126.22 during yesterday's trading session.
The exchange rate could continue to edge lower in a descending channel pattern during the following trading session. The potential target for the EUR/JPY pair would be near the 126.00 area.
However, the weekly S1 at 126.22 could still provide support for the currency exchange rate within this session.
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