USD/JPY breakout likely to occur - Technical Analysis - Dukascopy Bank
Wed, 28 Apr 2021 05:25:56 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
38%
49%
-27.9%
Shorts
62%
51%
17.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Buy
RSI(14)
Sell
Neutral
Neutral
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇒
⇒
⇒
During Tuesday's trading session, The US Dollar surged by 55 pips or 0.51% against the Japanese Yen. The currency pair breached the weekly R1 at 108.73 on Tuesday.
Currently, the exchange rate is trading near the upper line of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 109.20 area could be expected within this session.
However, if the channel pattern holds, the currency exchange rate could make a brief retracement towards the 108.40 level through the following trading hours.
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