USD/JPY revealed descending trend

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs74%74%-0.2%
Shorts26%26%0.5%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

Yesterday, the USD/JPY currency pair tumbled to the 107.70 level. During Thursday's morning, the pair was trading at the given level.

On the one hand, the exchange rate could continue to go downwards, as it could target the lower boundary of the short-term descending channel located circa the 107.50 mark.

On the other hand, the pair could reverse north within the following trading hours. Note, that the rate has to surpass the monthly PP at 107.84. Also, it is unlikely, that the pair could jump higher than 108.10 due to the resistance of the 55– and 100-hour SMAs.

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