USD/JPY find support and reveals pattern

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

Positions Today Yesterday % Change
Longs 51% 50% 1.96%
Shorts 49% 50% -2.04%
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

It was already speculated on Wednesday that there should exist a long term ascending pattern dominant to the junior downwards aimed channel on the USD/JPY chart. That pattern was revealed on Thursday.

Namely, as the rate rebounded against the support of the 200-hour simple moving average, the event provided a reference point for the dominant ascending pattern.

The rebounded resulted in a surge, which passed the 55-hour SMA only to be stopped by the 100-hour SMA. If the 100-hour SMA at 110.67 gets properly passed, the rate will face no resistance. However, a new short term pattern should reveal itself in the near future.

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