EUR/JPY trades above 50– hour SMA - Technical Analysis - Dukascopy Bank
Thu, 29 Apr 2021 05:57:21 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
29%
2.3%
Shorts
71%
71%
-0.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
Sell
Sell
Stochastic(5;3;3)
Neutral
Sell
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇒
The common European currency edged higher by 39 pips or 0.30% against the Japanese Yen on Wednesday. The currency pair breached the weekly R2 at 131.72 during Wednesday's trading session.
Given that the exchange rate is currently trading above the 50– and 200– hour SMAs, bullish traders are likely to continue to pressure the EUR/JPY pair higher within this session.
However, the upper line of an ascending channel pattern could provide resistance for the currency exchange rate during the following trading session.
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