EUR/JPY breakout expected - Technical Analysis - Dukascopy Bank
Wed, 21 Apr 2021 06:18:46 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
31%
30%
1.9%
Shorts
69%
70%
-0.8%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Buy
Neutral
Sell
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇘
⇗
⇒
The single European currency plummeted by 91 pips or 0.69% against the Japanese Yen on Tuesday. The currency pair breached the 50– and 200– hour SMAs during Tuesday's trading session.
Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the weekly S2 at 129.40 could be expected today.
However, if the channel pattern holds, bullish traders are likely to drive the currency exchange rate higher within this session.
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