USD/JPY rushes to the top

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Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 45% 49% -8.89%
Shorts 55% 51% 7.27%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate ⇒ ⇗ ⇗

[ANNOUNCE] In result of the previous trading session, the Dollar appreciated against the Yen by 0.82%. In result of such advance the pair has practically returned to the 113.20 level, which represented significant resistance barrier three weeks ago. [/ANNOUNCE] 

As now this area is additionally protected by the weekly R2, it seems that the currency rate is going to make a rebound. This assumption is also supported by the fact that in result of the sharp surge the pair formed a short-term rising wedge. Accordingly, it is expected to make a breakout in the southern direction. 

Finally, there is a need to take into account that on daily chart the pair is about to reach the upper trend-line of a long-term, dominant pattern, which additionally points out on an upcoming rebound.

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