USD/JPY fails to move above 109.00

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

Positions Today Yesterday % Change
Longs 66% 66% 0.00%
Shorts 34% 34% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

USD/JPY has remained steady for the last three trading sessions. The main reason has been the pair's inability to breach the strong support of the 55– and 100-hour SMAs that were located slightly below 109.00 at the time of the analysis. The overall trend, however, has been slightly upwards, as shows by the dashed line. 

Given that the Greenback still remains weak against the Yen, bulls might fail to breach the 109.00 area, at least during the first part of the day. This situation could change later in the session when several noteworthy fundamentals are released. 

A positive outcome should not exceed the 200-hour SMA at 109.67, while the opposite scenario might bring further decline for the US Dollar down to the 108.00 mark or the distant weekly S1 at 107.53.

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