USD/JPY breaks dominant pattern

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

Positions Today Yesterday % Change
Longs 44% 53% -20.45%
Shorts 56% 47% 16.07%
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

On Monday the USD/JPY currency pair traded near the 110.50 mark. At that level it was being kept by the resistance of the 200-hour simple moving average. In addition, the 200-hour SMA was about to be strengthened by the 55 and 100-hour SMAs, which were located just above. 

However, more notable was the fact that the rate had fallen below the support of a long term ascending pattern. The event took place suddenly, as the 55-hour SMA failed to provide support. 

In regards to the future, the rate is likely going to be beaten down by the SMAs to the 110.20 level, where the 61.80% Fibonacci retracement level is located at.

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