USD/JPY revealed rising wedge pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs48%49%-2.2%
Shorts52%51%2.1%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Yesterday, the USD/JPY currency pair revealed a rising wedge pattern. During Friday morning, the pair was trading near the lower pattern line.

From a theoretical point of view, it is likely that the exchange rate could reverse north from the lower pattern line in the nearest future and target the resistance level formed by the weekly R2 and the monthly PP at 107.65.

Meanwhile, note that the currency pair could be pressured by the weekly R1 and the 100-hour SMA near 107.20 and breach the given pattern south. In this case it is unlikely that the pair could decline below the weekly PP at 106.60.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.