EUR/JPY breakout could occur - Technical Analysis - Dukascopy Bank
Wed, 24 Mar 2021 07:08:13 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
39%
41%
-7.0%
Shorts
61%
59%
4.4%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Buy
Neutral
Sell
Stochastic(5;3;3)
Buy
Buy
Sell
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇒
⇗
⇒
Downside risks pressured the common European currency against the Japanese Yen on Tuesday. The currency pair fell by 122 pips or 0.94% during Tuesday's trading session.
The exchange rate is currently trading near the lower line of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the 127.70 area could be expected within this session.
However, if the channel pattern holds, the currency exchange rate would make a brief pullback towards the 129.05 level today.
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