EUR/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Mon, 26 Apr 2021 06:24:54 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
27%
-5.3%
Shorts
74%
73%
1.8%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇗
⇒
⇗
The single European currency surged by 91 pips or 0.70% against the Japanese Yen on Friday. A breakout occurred through the upper line of a descending channel pattern during Friday's trading session.
Given that a breakout has occurred, buyers could continue to pressure the exchange rate higher during the following trading session. The potential target for the currency pair will be near the 131.00 level.
However, a resistance level at 130.53 could still provide resistance for the EUR/JPY currency exchange rate today.
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