USD/JPY moves below 112.20

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 42% 43% -2.38%
Shorts 58% 57% 1.72%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

In line with expectations, the currency pair one more time failed to break through a combined resistance formed by the 55-, 100- and 200-hour SMAs that were slipping along the upper boundary of a recently formed descending channel.

The fall of the rate was additionally supported by reports of another underground quake near North Korea's nuclear test base. 

From technical perspective, the exchange rate is expected to continue to move to the south trying to reach an intersection of the bottom boundary of the pattern and the weekly S2 at 111.70. 

However, there is a need to take into account a release of information about the US inflation and retail sales later this day whose combined effect most probably is going to push the pair out of the channel.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
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.