USD/JPY reveals medium pattern

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

Positions Today Yesterday % Change
Longs 43% 41% 4.65%
Shorts 57% 59% -3.51%
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 Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The USD/JPY on Friday morning remained near the previous levels as on Thursday. However, there was a new very important detail revealed about the currency exchange rate. 

The pair retraced downwards and made a rebound just below the 100-hour SMA. The point of reference can be used to draw a new pattern. Namely, a medium scale ascending channel pattern was charted. The pattern is set to guide the rate higher in the upcoming week. 

Meanwhile, in the short term watch the monthly PP at 111.80. If it gets passed, the 112.00 mark will be targeted next.

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