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EUR/JPY breaks monthly resistance line

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs52%46%11.9%
Shorts48%54%-13.1%
Indicator4H1D1W
MACD(12;26;9)4H1D1W
RSI(14)BuyBuyBuy
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇗

[ANNOUNCE]The single European currency surged by 116 pips or 0.94% against the Japanese Yen on Wednesday. The currency pair breached the monthly resistance level at 124.00 during Wednesday's trading session.[/ANNOUNCE]

Most likely, bullish traders will pressure the exchange rate higher within the following trading session. The potential target for bulls would be near the weekly R3 at 124.75.

A possible downside reversal could occur from the upper boundary of an ascending channel pattern during the following trading session.

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23 Jul 2020

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22 Jul 2020

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