EUR/JPY could edge up - Technical Analysis - Dukascopy Bank
Wed, 05 May 2021 06:03:25 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
28%
26%
6.4%
Shorts
72%
74%
-2.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇘
⇗
⇒
The common European currency declined by 45 pips or 0.34% against the Japanese Yen on Tuesday. The decline was stopped by the 200– hour simple moving average during Tuesday's trading session.
Everything being equal, the exchange rate is likely to continue to edge lower during the following trading session. A breakout through the lower boundary of a descending channel pattern could occur.
However, the 200– hour SMA at 131.22 could still provide support for the currency exchange rate today.
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