EUR/JPY decline likely to continue - Technical Analysis - Dukascopy Bank
Thu, 18 Feb 2021 07:17:50 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
34%
41%
-22.5%
Shorts
66%
59%
11.4%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇗
The common European currency declined by 98 pips or 0.76% against the Japanese Yen on Wednesday. The currency pair breached the 50– hour simple moving average at 127.88 during yesterday's trading session.
All things being equal, the exchange rate is likely to continue to edge lower during the following trading session. The potential target for bears would be near the lower line of an ascending channel pattern at 126.80.
However, the 200– hour SMA at 127.27 could provide support for the currency exchange rate in the shorter term.
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