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The US dollar is rising against the yen on Tuesday morning European session.
The exchange rate trades at 0640 UTC near the 111.15 area, slightly below the upper boundary of the hourly Bollinger bands (111.20).
The hourly RSI ticks at 70 and signals that a correction is likely during this session. Note that the 20, 55 and 100-hour SMAs are all positioned near the 111.05 area. The weekly PP is located at 111.07. If the previous mentioned area within 111.05/07 is breached, the next target may lie on the weekly S1 (110.58).
The exchange rate trades at 0640 UTC near the 111.15 area, slightly below the upper boundary of the hourly Bollinger bands (111.20).
The hourly RSI ticks at 70 and signals that a correction is likely during this session. Note that the 20, 55 and 100-hour SMAs are all positioned near the 111.05 area. The weekly PP is located at 111.07. If the previous mentioned area within 111.05/07 is breached, the next target may lie on the weekly S1 (110.58).
