USD/JPY likely to continue to edge up

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs32%31%3.2%
Shorts68%69%-1.5%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellBuySell
Aggregate⇘⇗⇒

[ANNOUNCE]The US Dollar edged higher by 26 pips or 0.24% against the Japanese Yen on Tuesday. The 55– hour simple moving average provided resistance for the exchange rate during yesterday's trading session.[/ANNOUNCE]

Everything being equal, the currency pair is likely to continue to edge up during the following trading session. The possible target for the USD/JPY pair will be near the 110.00 area.

However, a resistance cluster formed by the 100– and 200– hour SMAs at 109.66 could provide resistance for the currency exchange rate in this session.

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