EUR/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Fri, 22 Jan 2021 06:46:09 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
52%
50%
3.6%
Shorts
48%
50%
-3.9%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Sell
Sell
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Neutral
Sell
Buy
Aggregate
⇘
⇘
⇗
The common European currency surged by 59 pips or 0.47% against the Japanese Yen on Thursday. A breakout occurred through the upper line of a descending channel pattern during yesterday's trading session.
Given that a breakout has occurred, the EUR/JPY currency exchange rate is likely to continue to edge higher today. The potential target for bulls would be near the 126.40 level.
However, a resistance line at 126.20 could provide a barrier for bullish traders within the following trading session.
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