USD/JPY could trade downwards

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs40%38%3.5%
Shorts60%62%-2.3%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellNeutralSell
SAR(0.02;0.2)SellBuySell
Aggregate

On Friday, the USD/JPY currency pair tested the 106.265 level. During today's morning, the pair touched the 105.95 mark.

Given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs in the 106.15 area, it is likely that some downside potential could prevail in the market. In this case the rate could gain support from the weekly S1 at 105.85.

If the given support level holds, it is likely that the US Dollar could trade sideways against the Japanese Yen within the following trading session.

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