At the present moment, the currency exchange rate is fluctuating in three different channels. After making a rebound from upper edge of two of them, which matched with Governor Kuroda speech, it tried to slip to the bottom. But this attempt was expectedly neutralized by the rising 100-hour SMA. In addition to that, this indicator also helped to keep the rate within the dominant ascending channel. Accordingly, today the pair is expected to gradually move to the top, trying to reach an intersection of the above ascending channel and junior descending channel somewhere near the 112.90 and 113.10 marks. In support of this scenario speaks the fact that the only barrier that the pair is facing on its way is the weekly R1 at 112.81.
