USD/JPY passes 61.80% Fibo

Source: Dukascopy Bank SA
 Positions Today Yesterday Change
 Longs 45% 44% 2.2%
 Shorts 55% 56% -1.8%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Buy Buy Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Neutral Sell
 Alligator(13;8;5) Buy Buy Sell
 SAR(0.02;0.2) Buy Buy Sell
 Aggregate

During Monday's trading session, the 55-hour simple moving average supported the currency exchange rate to trade above the weekly PP at 110.40. On Tuesday morning, the rate tested the 61.80% Fibonacci retracement level to be located at the 110.77 mark. 

In regards to the near-term future, it is expected that the currency exchange rate will break the resistance of the 61.80% Fibo at 110.77 to trade at the 110.80 level during the day. 

However, the resistance level of the 61.80% Fibo could resist the rate to push it towards the bottom boundary of the freshly drawn pattern line at the 110.60 mark.

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