USD/JPY stops the surge

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 50% 51% -2.00%
Shorts 50% 49% 2.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The US Dollar has stopped the surge against the Japanese Yen. Moreover, the long running, rather narrow range ascending channel pattern has been broken.  

However, to most market participants it was clear that a passing of the lower trend line of the pattern and the 55– hour SMA can be used as a level for setting up orders. So most likely most retail traders got out on time. 

Meanwhile, note that the breaking of the pattern occurred in a descending channel pattern, which is likely a part of a larger pattern. That means that a new medium scale pattern is about to be revealed.

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