USD/JPY could target weekly S1 - Technical Analysis - Dukascopy Bank

Tue, 08 Dec 2020 10:50:57 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs63%67%-5.8%
Shorts37%33%9.9%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

On Monday, the USD/JPY currency pair traded in the 103.95/104.30 range.

It is likely that the exchange rate could trade downwards in the short term due to the resistance area formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 104.05/104.21 range. The rate could target the weekly S1 at 103.67.

However, if the predetermined resistance area does not hold, the currency pair could target the 104.40/104.60 range within the following trading session.


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