USD/JPY pressured by 55– and 200-hour SMAs - Technical Analysis - Dukascopy Bank

Wed, 23 Dec 2020 11:08:41 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs72%70%2.2%
Shorts28%30%-5.6%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

Yesterday, the USD/JPY currency pair reversed south from the 103.70 level.

It is likely that exchange could trade downwards in the short term, as it could be pushed down by the 55– and 200-hour moving averages in the 103.50/103.60 range. The rate could target the 103.00 level.

Meanwhile, note that the currency pair could gain support from the 100-hour moving average near 103.40. Thus, some upside potential could prevail in the market, and the pair could exceed the 103.80 mark.


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