USD/JPY realises upside potential

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

Positions Today Yesterday % Change
Longs 65% 67% -3.08%
Shorts 35% 33% 5.71%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The US Dollar was relatively flat against the Yen on Friday, thus remaining in the 109.00/20 area for the whole session. The given lack of momentum changed this morning when the rate managed to reach the weekly PP at 109.62. The steepness of the downtrend has shifted north, as apparent from the rate's inability to reach the lower channel boundary. Thus, the formation of a junior channel down was confirmed. Taking into account bullish technical indicators, the upside limit for this session may be set at the upper boundary of either the senior or junior channel circa 109.80 and 110.20, respectively. The latter is also supported by the 200-hour SMA.

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