USD/JPY tries to reach 112.60

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 49% 49% 0.00%
Shorts 51% 51% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

During previous trading session, the Greenback continued to strengthen against the Yen, fluctuating in two minor ascending channels.  

At the moment, the turnaround of the rate seems unlikely, as the southern side is reliably secured by a combination of the 55- and 100-hour SMAs in conjunction with the weekly PP at 112.13. 

In contrast, the closest resistance level except for the 200-hour SMA is located only near the 112.57 and is formed by the weekly R1 and the upper boundary of one of the above patterns. 

In larger perspective there is a need to take into account that the pair is approaching the upper boundary of a dominant falling wedge pattern, which means that another rebound most probably is going to happen in the nearest future.

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.