EUR/JPY could continue to surge - Technical Analysis - Dukascopy Bank
Thu, 01 Apr 2021 06:54:02 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
37%
40%
-7.9%
Shorts
63%
60%
4.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇗
The common European currency surged by 72 pips or 0.50% against the Japanese Yen on Wednesday. The currency pair tested the weekly resistance level at 130.05 during Wednesday's trading session.
Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern at 129.75.
If the channel pattern holds, buyers are likely to continue to pressure the EUR/JPY pair higher today.
However, if the currency exchange rate breaks the ascending channel, a decline towards a support cluster at 129.17 could be expected within this session.
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