USD/JPY tests long-term channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs28%28%1.2%
Shorts72%72%-0.5%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇗
[ANNOUNCE]

Yesterday, the USD/JPY currency pair tested the upper boundary of the long-term descending channel at 109.70. During Thursday morning, the pair continued to test the given channel.

[/ANNOUNCE]

From a theoretical point of view, it is likely that a reversal south could occur in the nearest future. In this case the exchange rate could target the support level formed by the weekly PP and the 200-hour SMA at 109.17.

However, note that the currency pair is supported by the 55– and 100-hour SMAs. Thus, if the given channel does not hold, some upside potential could prevail in the market, and the pair could target the weekly R1 at 109.91.

Actual Topics