USDJPY

During the previous trading session, the USD/JPY currency pair traded sideways between the weekly S1 and the Fibonacci 50.00% retracement, located 109.32 and 109.58 respectively.  

Note, that the pair is trading near the upper boundary of the short-term descending channel, thus, from a theoretical point of view, it is likely, that a reversal south could occur in the short run. 

Also, note, that the exchange rate is pressured by the 55– and 100-hour moving averages at 109.57, thus, from a technical perspective, it is unlikely, that a breakout north could occur in the nearest future.

USDJPY

USDJPY

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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