USD/JPY recovers lost positions

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

Positions Today Yesterday % Change
Longs 41% 40% 2.44%
Shorts 59% 60% -1.69%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

Following a 40-pip plunge during the first half of Friday, the pair managed to recover some of its lost positions during the following hours. However, the strong resistance of the 55-hour SMA did not allow to surpass the 112.80 mark, thus leaving the rate lingering slightly above the monthly PP by Tuesday morning. 

It is likely that the bullish sentiment prevails in this session which could push the US Dollar up to the weekly PP, the 100-hour SMA and the upper trend line breached on December 28 circa 113.00. Given that this area is likewise reinforced by the 55-day SMA, bulls could fail to overcome this psychological level. 

In terms of downward pressure, the US Dollar is supported by the weekly S1 at 112.32.

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