EUR/JPY bounces off support - Technical Analysis - Dukascopy Bank

Fri, 26 Mar 2021 06:38:43 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs40%42%-4.5%
Shorts60%58%3.1%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)BuyNeutralSell
Stochastic(5;3;3)BuyBuySell
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The common European currency declined by 48 pips or 0.37% against the Japanese Yen on Thursday. The currency pair tested the weekly S2 at 128.51 during yesterday's trading session.

The exchange rate bounced off from the weekly support level at 128.51 during the Asian session on Friday. Most likely, the EUR/JPY pair could edge higher during the following trading session.

However, a resistance level formed by the upper line of a descending channel pattern could provide resistance for the currency exchange rate today.


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