EUR/JPY likely to maintain narrow channel - Technical Analysis - Dukascopy Bank
Mon, 22 Mar 2021 07:16:21 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
41%
34%
16.3%
Shorts
59%
66%
-11.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇒
⇒
The common European currency declined by 52 pips or 0.40% against the Japanese Yen on Friday. The currency pair was pressured lower by the 200– hour SMA during Friday's trading session.
As for the near future, the exchange rate could continue to edge lower in a narrow descending channel pattern. The potential target for the EUR/JPY pair will be near the 128.60 area.
However, the weekly support level at 129.05 could provide support for the currency exchange rate within this session.
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