EUR/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Mon, 29 Mar 2021 05:48:28 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
42%
40%
3.7%
Shorts
58%
60%
-2.6%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Neutral
Neutral
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇒
⇗
The single European currency surged by 85 pips or 0.66% against the Japanese Yen on Friday. A breakout occurred through the upper boundary of a descending channel pattern during Friday's trading session.
Given that a breakout has occurred, the exchange rate is likely to continue to edge higher during the following trading session The potential target for the EUR/JPY pair will be near the 129.80 area.
However, the 200– hour simple moving average at 129.35 could provide resistance for the currency exchange rate within today's session.
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