Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Buy | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Sell | Sell | Sell |
Alligator (13; 8; 5) | Sell | Neutral | Buy |
SAR (0.02; 0.2) | Buy | Sell | Buy |
Aggregate | ⇘ | ⇒ | ⇒ |
The Euro is losing ground against the Yen in a medium term channel down pattern. However, that does not necessarily mean that the currency exchange rate is set to decline in the short term.
Recently the pair hit the support line of the medium channel down pattern. As a result of that event the pair jumped until it met the combined resistance of the monthly S1 and the weekly PP at the 128.80 mark. The resulting decline is most likely going to reveal, where the short term support line is located at, which will help market participants in forecasting the exact movements of the pair.
It can be expected that the rate will attempt another try to break the mentioned resistance and eventually succeed at it.