The five-day surge of the Dollar against the Yen was stopped by the upper trend-line of medium scale symmetrical triangle, as expected.
In result of a rebound, the pair started new trading session from the monthly PP at 112.62. After such rapid drops traders usually try to restore lost positions. However, in this case the recovery is not expected to last for long, as northern side is blocked by a combination of the weekly PP, the 55- and 100-hour SMAs. Accordingly, the pair is expected to continue moving to the opposite side of triangle, towards the 50% Fibonacci retracement level located at the 112.45 mark. In support of this assumption, most of the pending orders in 50-pip range are set to sell
