USD/JPY remains in the previous day's trading range after a failed attempt to pass resistance a level at 113.24.
USD/JPY remains in the previous day's trading range after a failed attempt to pass resistance a level at 113.24.
The rate has continued a surge that began after the currency exchange rate met with the lower trend line of a dominant ascending pattern.
On Friday, Dukascopy analysts spotted a descending pattern on the hourly chart of the USD/JPY currency exchange rate.
On Thursday the USD/JPY traded near the 113.40 mark, where it had retreated after passing the support levels near 113.60 on Wednesday.
By trading horizontally the USD/JPY has broken the support of a junior ascending pattern that was drawn on the hourly chart.
On Tuesday, the USD/JPY traded near the previous day's levels after touching a new low level at 113.60 mark.
After reaching a new high level at 114.20 the USD/JPY has retreated downwards to look for technical support levels.
The USD/JPY has paused the surge. Namely, it retraced back downwards to meet with a support level.
On Thursday the USD/JPY was approaching the high levels of the volatility range that was achieved during the US Congressional election announcement.
The USD/JPY increased its volatility during the announcement of the US election results.
Prior to the US elections the USD/JPY declined.
The USD/JPY currency rate is continuing a surge in the borders of an ascending pattern. It faces no resistance as high as the 113.80 level.
On Friday, prior to the US Employment data set announcement the USD/JPY traded near the 113.00 level
USD/JPY has retraced back down to the 112.70 mark, where a weekly pivot point and the 61.80% Fibonacci retracement level stopped the decline.
USD/JPY continues to surge on Wednesday. Moreover, the next resistance was only located at the 113.56, indicating that the surge will continue.
The pair has made an unexpected turn, as the US Dollar is gaining against all other currencies.
The USD/JPY has clearly moved below the lower trend line of the dominant ascending channel pattern.
On Friday, the USD/JPY traded near the low levels of Thursday. However,
The USD/JPY has reached the 112.40 mark in the aftermath of its bounce off from the support line of a dominant channel up pattern.
The USD/JPY has once more bounced off the lower trend line of a dominant ascending pattern.
By the middle of Tuesday's trading the USD/JPY had plummeted down to the 50.00% Fibo at 112.16.
On Monday the USD/JPY trades above the 61.80 % Fibo.
On Friday the USD/JPY traded still below the resistance levels at 112.60.