USD/JPY trades within symmetrical triangle pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs55%55%0.5%
Shorts45%45%-0.6%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuySell
Aggregate

The USD/JPY currency pair has revealed a symmetrical triangle pattern.

From a theoretical point of view, it is likely that the exchange rate could trade sideways within the predetermined pattern within a following trading session.

Meanwhile, note that the rate could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 103.80/103.94 range. Thus, a breakout north could occur, and the pair could target the weekly R1 at 104.35.

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