The USD/JPY has been trading sideways since it encountered the 200-hour SMA.. The currency pair tested the Fibonacci 61.80% during morning hours.
The Dukascopy analytics adjusted the most dominant pattern on Friday. Previously the pattern’s location was only speculative. It was not know precisely at which mark the upper trend line would be confirmed. After the adjustments, we could see that the senior descending pattern’s real borders.
In regards to the near future, the pair is set to be squeezed in between the mentioned Fibonacci retracement and the 200-hour SMA. After the squeeze, a break out should occur.
