EUR/JPY bounces off support - Technical Analysis - Dukascopy Bank
Mon, 03 May 2021 05:56:43 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
28%
-7.7%
Shorts
74%
72%
2.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇒
The common European currency declined by 77 pips or 0.58% against the Japanese Yen on Friday. The currency pair tested the lower boundary of an ascending channel pattern at 131.32 during Friday's trading session.
The exchange rate bounced off the lower line of the channel pattern at 131.35 during the Asian session on Monday. Most likely, bullish traders are likely to pressure the EUR/JPY pair higher today.
However, the 50– hour simple moving average at 131.79 could provide resistance for the currency exchange rate within this session.
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