EUR/JPY breakout likely to occur - Technical Analysis - Dukascopy Bank
Thu, 06 May 2021 06:41:06 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
28%
2.7%
Shorts
71%
72%
-1.1%
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 edged lower by 40 pips or 0.31% against the Japanese Yen on Wednesday. The currency pair breached the 50– and 200– hour SMAs during Thursday's trading session.
By and large, the exchange rate is likely to continue to decline during the following trading session. A breakout through the lower boundary of a descending channel pattern could occur.
However, the support level at 131.03 could provide support for the EUR/JPY currency exchange rate in the shorter term.
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