EUR/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Fri, 19 Mar 2021 06:50:13 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
34%
41%
-19.7%
Shorts
66%
59%
10.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Buy
Neutral
Sell
Alligator(13;8;5)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇒
Downside risks dominated the common European currency against the Japanese Yen on Thursday. The currency pair breached the lower boundary of an ascending channel pattern during yesterday's trading session.
Given that a breakout has occurred, the exchange rate could continue to edge lower during the following trading session. The potential target for the EUR/JPY pair will be at weekly S1 at 129.25.
However, technical indicators suggest buying signals on the daily time-frame chart, most likely, the currency exchange rate could edge higher today.
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