EUR/JPY could continue to surge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs37%40%-7.9%
Shorts63%60%4.7%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate

The common European currency surged by 72 pips or 0.50% against the Japanese Yen on Wednesday. The currency pair tested the weekly resistance level at 130.05 during Wednesday's trading session.

Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern at 129.75.

If the channel pattern holds, buyers are likely to continue to pressure the EUR/JPY pair higher today.

However, if the currency exchange rate breaks the ascending channel, a decline towards a support cluster at 129.17 could be expected within this session.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.