The currency pair USD/JPY made a strong upward movement in the first days of the new year and currently our STS_ATR_Distance_Indicator shows that we have passed almost 84% of the Weekly ATR (6 periods). The STS_RSI_MTF_Indicator shows that all Timeframes from M15 to Monthly are Overbought and with extremely high values, especially the largest - Monthly RSI - 79, Weekly RSI - 81, Daily RSI - 90.
The STS_MA_Distance_Indicator also shows very large deviations from 10 EMA on the large Timeframes: Monthly - 364 pips, Weekly 182 pips, Daily 92 pips. All this gives us reason to expect the price to make a downward movement with a target of at least 10 EMA on a Daily Chart. That's why we loaded our STS_MA_Distance_Bot to open short positions on each Daily Candle if the distance to 10 EMA is 90 or more pips.
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