EUR/JPY decline could continue - Technical Analysis - Dukascopy Bank
Wed, 03 Feb 2021 07:43:19 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
38%
36%
4.3%
Shorts
62%
64%
-2.7%
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)
Sell
Buy
Buy
SAR(0.02;0.2)
Neutral
Buy
Buy
Aggregate
⇒
⇗
⇗
The common European currency declined by 53 pips or 0.42% against the Japanese Yen on Tuesday. The decline was stopped by the 200– hour simple moving average at 126.34 during yesterday's trading session.
All things being equal, the EUR/JPY exchange rate could continue to edge lower during the following trading session. The possible target for bears would be near the 125.800 area.
However, the 200– hour SMA could still provide support for the currency exchange rate within this session.
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