USD/JPY trades at 109.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs37%36%1.9%
Shorts63%64%-1.1%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuySellBuy
Aggregate

On Monday, the USD/JPY currency pair tried to surpass the resistance level formed by the weekly R1 at 109.24. During today's morning, the pair was trading near the given level.

Note that the exchange rate has been trading within a rising wedge pattern since the beginning of April. Thus, from theoretical perspective, it is likely that a reversal south could occur in the short run. But it is unlikely that the rate could decline below the Fibo 50.00% at 108.35.

On the other hand, the currency pair could gain support from the 55-hour SMA near 108.80 and trade upwards in the nearest future. In this case the pair could target the resistance formed by the Fibo 61.80% and the weekly R2 at 109.80.

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