USD/JPY two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs35%36%-3.4%
Shorts65%64%1.9%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuySellSell
Aggregate⇘⇘⇒

[ANNOUNCE]On Thursday, the US Dollar declined by 62 pips or 0.56% against the Japanese Yen. The decline was stopped by the 100– hour simple moving average at 109.58 during yesterday's trading session.[/ANNOUNCE]

Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern and could be set for a breakout. If the breakout occurs, a decline towards the weekly S1 at 109.19 could be expected today.

However, if the channel pattern holds, buyers could drive the currency exchange rate higher within this session.

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