USD/JPY enters consolidation

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

Positions Today Yesterday % Change
Longs 40% 36% 10.00%
Shorts 60% 64% -6.67%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Following the massive plunge mid-Thursday, USD/JPY entered in a minor consolidation phase, thus being stranded between the 55– and 200-hour SMAs at 111.69 and 112.21, respectively. The pair found support at the monthly PP at 111.80 prior to moving north. An immediate resistance is provided by the aforementioned 55-hour SMA, while the next resistance located at the 113.36 mark is a distant target. Technical indicators demonstrate mixed results; thus the possible direction of the US Dollar is unclear. In case bullish sentiment prevails in this session, the rate may approach the 55-hour SMA and may even breach it. Nevertheless, the base scenario favours the rate continuing to move sideways, remaining in the 111.70/112.20 territory.

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