EUR/JPY sets for breakout - Technical Analysis - Dukascopy Bank
Wed, 17 Mar 2021 08:06:59 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
39%
37%
5.8%
Shorts
61%
63%
-3.8%
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)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇗
The common European currency declined by 77 pips or 0.59% against the Japanese Yen on Tuesday. The currency pair breached the lower boundary of an ascending channel pattern during yesterday's trading session.
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 S1 at 129.25 could be expected today.
However, if the channel pattern holds, bullish traders could pressure the currency exchange rate higher today.
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