USD/JPY breakout could occur

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs33%35%-6.0%
Shorts67%65%2.9%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuySellBuy
Aggregate⇒⇘⇗

[ANNOUNCE]On Tuesday, the US Dollar surged by 55 pips or 0.50% against the Japanese Yen. The currency pair breached the 55– and 100– hour SMAs during Tuesday's trading session.[/ANNOUNCE]

Currently, the exchange rate is trading near the upper line of a descending channel pattern and could be set for a breakout.

If the breakout occurs, a surge towards the 110.40 area could be expected within this session.

However, if the channel pattern holds, bears might drive the currency exchange rate lower today.

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