USD/JPY heads to north in ascending channel

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 34% 32% 5.88%
Shorts 66% 68% -3.03%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Buy Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

In result of the previous trading session previously dominant descending channel ceased to exist, as the currency rate broke through its upper boundary that was additionally protected by the 100-hour SMA.  

As a result, now movement of the pair is guided by the four-day long ascending channel. However, that pattern might not sustain for long, as the exchange rate is approaching towards another combined resistance formed by the 200-hour SMA and the weekly PP at 113.80. 

Unless the buck receives a proper impulse, for instance, from the Fed Chair Yellen speech at the Central Bank Communications Conference, it is expected to fail to advance any further. 

On the other hand, the rapid fall might not happen as well, as the southern side is additionally backed up by a combination of the 55- and 100-hour SMAs.

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