USD/JPY set for possible reversal

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 66% 65% 1.52%
Shorts 34% 35% -2.94%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Neutral Sell Sell
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

During the last trading session, the US Dollar managed to recover some losses against the Yen, as political tensions in the Korean peninsula eased. The rate surpassed all three SMAs and the weekly PP just to reach the weekly R1 at 110.51. In addition, the pair managed to breach two descending channels.  

The weekly R1 is likely to be a turning point, as technical indicators seek to retrace from the current levels. In case strong fundamental data do not put an upward pressure on the Dollar, the American currency may range between the weekly R1 and PP in this session. 

Possible downside limit could be either the 200-hour SMA or the upper boundary of the senior channel down.

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