EUR/JPY breakout likely to occur - Technical Analysis - Dukascopy Bank
Fri, 15 Jan 2021 07:07:29 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
45%
30%
32.8%
Shorts
55%
70%
-27.2%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Sell
Buy
Buy
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Sell
Neutral
Buy
Aggregate
⇘
⇒
⇗
The common European currency fell by 54 points or 0.42% against the Japanese Yen on Thursday. The 50– hour simple moving average pressured the currency pair lower during yesterday's trading session.
Currently, the EUR/JPY exchange rate is trading near the lower line of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the weekly S2 at 125.41 could be expected within this session.
However, if the channel pattern holds, the currency exchange rate is likely to make a pullback towards the 126.40 level today.
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