EUR/JPY two scenarios likely - Technical Analysis - Dukascopy Bank
Tue, 02 Mar 2021 07:21:40 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
45%
39%
14.1%
Shorts
55%
61%
-11.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇗
⇒
⇗
The Eurozone single currency has declined by 54 pips or 0.42% against the Japanese Yen since yesterday's trading session. The decline was stopped by the 200– hour SMA at 128.33 on Tuesday morning.
Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the weekly support level at 127.38 within this session.
However, if the channel pattern holds, buyers are expected to pressure the currency exchange rate higher during the following trading session.
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