USD/JPY breaches strong resistance

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

Positions Today Yesterday % Change
Longs 74% 71% 4.05%
Shorts 26% 29% -11.54%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

Tuesday was rather uneventful for the USD/JPY exchange rate, as it spend the majority of the session slightly below the 100– and 200-hour SMAs.  

The US Dollar eventually gathered enough momentum to dash through this resistance cluster early today. As a result, it was located near the boundaries of two channels circa 107.40. 

From theoretical point of view, the rate should reverse near this area. However, it is more likely that the rate continues pushing higher, given its ability to surpass the comparatively strong resistance cluster near 107.20. 

The nearest northern barrier is set the monthly R1 at 107.50, while a more probable upside target for today is the upward-sloping trend-line at 107.80.

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