USD/JPY tests weekly R1

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs36%37%-3.9%
Shorts64%63%2.2%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Yesterday, the USD/JPY exchange rate climbed to the resistance level formed by the weekly R2 at 111.76.  

If the given resistance holds, it is likely, that some upside momentum prevails in the market, and the rate reaches the upper boundary of the long-term descending channel at 111.94. 

Otherwise, it is expected that the currency pair reverses south. However, it is unlikely that the pair surpasses the support level formed by the weekly R1 at the 111.32 mark.

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