Positions | Today | Yesterday | % Change | |
Longs | 49% | 45% | 8.16% | |
Shorts | 51% | 55% | -7.84% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Buy | |
RSI (14) | Neutral | Buy | Neutral | |
Stochastic (5; 3; 3) | Sell | Neutral | Buy | |
Alligator (13; 8; 5) | Sell | Sell | Buy | |
SAR (0.02; 0.2) | Buy | Sell | Buy | |
Aggregate | ⇘ | ⇘ | ⇑ |
The bearish pressure continued to prevail on Monday, thus sending USD/JPY towards the combined support of the monthly S2 and the weekly S1 circa 110.30.
Due to this cluster, the Greenback failed to reach the bottom boundary of a four-month channel circa 110.00. The test of this support was followed by a slight period of recovery until the rate reached the 55-hour SMA.
Technical indicators suggest that the rate is likely to fail today, especially if its northern barrier is likewise reinforced by the 100-hour moving average. Even if the rate breaches the 110.30 area, its subsequent fall should not exceed the aforementioned channel. The pair's movement would eventually lead to the breakout of a short-term descending channel and a possible surge.