USD/JPY falls amid Kim-Trump hostile rhetoric

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 43% 49% -13.95%
Shorts 57% 51% 10.53%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Neutral Buy Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

An increasing hawkish rhetoric between the United States and North Korea led to appreciation of the Yen by 63 basis points just in three hours. As a result, the pair broke through the 100-hour SMA as well as the weekly PP and ended up near the 200-hour SMA. 

Accordingly, today the currency rate might try using this downside momentum to slip to the area between the 111.38 and 111.26 levels. On the other hand, a number of factors indicate on presence of a new junior descending channel. 

If this assumption is true, then the rate should not fall below the 111.40 mark. In contrast, the buck might use the above 200-hour SMA as a springboard to try to return at least to the weekly PP at 111.90.

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