EUR/JPY bulls likely to prevail - Technical Analysis - Dukascopy Bank
Fri, 29 Jan 2021 07:15:03 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
44%
49%
-9.8%
Shorts
56%
51%
7.8%
Indicator
4H
1D
1W
MACD(12;26;9)
4H
1D
1W
RSI(14)
Buy
Buy
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇗
The common European currency surged by 60 basis points or 0.48% against the Japanese Yen on Thursday. The currency pair breached a resistance level at 126.11 during yesterday's trading session.
All things being equal, the exchange rate could continue to edge higher during the following trading session. A breakout through the upper boundary of an ascending channel pattern could occur.
However, if the channel pattern holds, the currency exchange rate is likely to make a brief retracement towards the 126.11 area within this session.
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