USD/JPY edges higher on Tuesday

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

Positions Today Yesterday % Change
Longs 35% 37% -5.71%
Shorts 65% 63% 3.08%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Neutral
Stochastic (5; 3; 3) Buy Buy Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The US Dollar was trading in a small range against the Yen on Monday. The pair entered a consolidation period, thus demonstrating the almost equal force of bulls and bears. The American currency edged higher in the morning session and surpassed the two-month high at 114.34. Technical indicators suggest that the upside momentum has not yet allayed, signalling to further increase in price. The nearest level of resistance is the upper channel boundary circa 114.80. However, the pair is more likely to trade sideways due to lack of major fundamental events, thus being located in the 114.70/80 area on Wednesday morning. In case of stronger downside risks, the 55-hour SMA should support the Greenback from falling lower.

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