The US Dollar has stopped the surge against the Japanese Yen. Moreover, the long running, rather narrow range ascending channel pattern has been broken.
However, to most market participants it was clear that a passing of the lower trend line of the pattern and the 55– hour SMA can be used as a level for setting up orders. So most likely most retail traders got out on time.
Meanwhile, note that the breaking of the pattern occurred in a descending channel pattern, which is likely a part of a larger pattern. That means that a new medium scale pattern is about to be revealed.
