USD/JPY bounces off support

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs30%35%-16.1%
Shorts70%65%7.0%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellSell
Aggregate⇗⇒⇒

[ANNOUNCE]During yesterday's trading session, the US Dollar declined by 37 pips or 0.34% against the Japanese Yen. The currency pair tested the weekly support level at 109.16 on Monday.[/ANNOUNCE]

The exchange rate bounced off the weekly S1 at 109.16 during the Asian session on Tuesday. Most likely, the USD/JPY pair could edge higher during the following trading hours.

However, bullish traders may encounter a resistance cluster at 109.66 within this session.

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