USD/JPY expected to appreciate today

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

Positions Today Yesterday % Change
Longs 74% 71% 4.05%
Shorts 26% 29% -11.54%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The US Dollar remained steady against the Japanese Yen on Wednesday. The pair did try to advance but was nevertheless stopped by the combined resistance of the 55– and 100-hour SMAs and the 50.0% Fibonacci retracement line. The shorter-term SMA has guided the pair ever since. 

It is likely that the Greenback re-tests this area once more during this session. A successful breakout would sent it up to the 200-hour SMA near 110.00. A further advance is unlikely. 

Meanwhile, in the event of bears prevailing, this potential fall should not exceed the 108.15 mark, as the 55– and 100-day SMAs are providing a rather strong support level in this area.

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