USD/JPY trades sideways at 109.40

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Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 50% 49% 2.00%
Shorts 50% 51% -2.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

During the previous trading session, the currency exchange rate was resisted by the weekly R1 at 110.01 to keep the rate to move sideways during the day. On Wednesday morning, the US Dollar was located near the 50.00% Fibonacci retracement level at the 109.65 mark. 

In regards to the near-term future, most likely, the US Dollar will trade sideways between the 55-hour and the 200-hour simple moving averages at the 109.60 level. 

On the other hand, the support levels of the 100-hour SMA and the 50.00% Fibo could poke the rate to break the resistance of the weekly R1 at 110.01.

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