USD/JPY rebounds from monthly S1 at 108.48

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

Positions Today Yesterday % Change
Longs 70% 64% 8.57%
Shorts 30% 36% -20.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

In accordance with expectations, most of the previous trading day the currency rate spent in an upward movement, using the weekly and monthly S1, as trampolines. Despite such rebound, the further road to the north is still obstructed by the 100- and 200-hour SMAs and then by the weekly and monthly PP. 

For this reason, today the pair is expected to resume the fall and once again to try to break through the above weekly S1 at 108.80. In the meantime, there is a need to take into account a certain effect that might appear after publication of data on the Japan's Final GDP at 23:50 GMT. 

Finally, there is also a need to remember that the rate is simultaneously moving in a senior descending channel and still hasn't formed a new reaction low.

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.