EUR/JPY likely to trend higher - Technical Analysis - Dukascopy Bank
Fri, 07 May 2021 05:29:46 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
30%
29%
4.5%
Shorts
70%
71%
-1.9%
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 surged by 62 pips or 0.47% against the Japanese Yen on Thursday. The currency pair tested the upper line of a descending channel pattern at 131.80 during Thursday's trading session.
All things being equal, the exchange rate is likely to continue to edge higher during the following trading session. The potential target for the EUR/JPY pair could be near the 132.00 level.
However, the upper line of the channel pattern at 131.65 could provide resistance for the currency exchange rate within this session.
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