USD/JPY 1H Chart: Double Bottom

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The U.S. Dollar has been mirroring the trajectory of its British counterpart against the Japanese Yen. Like the British Pound, the U.S. currency commenced a retreat against its Asian peer at the six-week high and seven days later it started to shape a double bottom pattern that now is around 90-bar long. However, USD/JPY seems to be stronger compared to GBP/JPY since the pair has almost reached the 50-hour SMA at 101.59 and is likely to overcome this key level preventing a climb to the neck-line at 101.94. This is supported by market players who place long orders in 57% of cases.
© Dukascopy Bank SA
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.