EUR/JPY two scenarios likely - Technical Analysis - Dukascopy Bank
Wed, 10 Mar 2021 07:15:55 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
46%
49%
-6.2%
Shorts
54%
51%
5.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇗
⇒
⇗
The common European currency declined by 53 pips or 0.41% against the Japanese Yen on Tuesday. The decline was stopped by the lower line of an ascending channel pattern at 129.00 during yesterday's trading session.
Most likely, the exchange rate could continue to edge higher during the following trading session. The EUR/JPY currency pair could still target the 130.00 level.
However, the weekly resistance level at 129.72 could provide resistance for the currency exchange rate today and a breakout through the lower boundary of the channel pattern could occur.
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