USD/JPY near strong resistance

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

Positions Today Yesterday % Change
Longs 66% 65% 1.52%
Shorts 34% 35% -2.94%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Buy Neutral Buy
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

Following a strong period of decline during the previous sessions, the US Dollar managed to regain some of its lost positions on Monday. Gains, however, were largely limited due to the notable resistance of the 55– and 100-hour SMAs and the monthly S3 located nearby.

Technical indicators favour another fall towards the distant weekly S1 at 107.53 during this session. In case fundamentals fail provide strong upside momentum, this is the most probable scenario. 

By and large, the US Dollar should soon accelerate against the Yen and return near the 109.50 mark where the upper boundary of a six-week descending channel is located.

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