EUR/JPY M15 Chart: Triangle

Source: Dukascopy Bank
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EURJPY has formed a triangle on M15 chart. The pattern has 43% quality and 80% magnitude within 138 bars. This is a short-term pattern which started at 13:30 on March 6th. Bears tried to break support level 105.84 but were unsuccessful. Afterwards the pair commenced recovering, though future perspectives are yet uncertain. Nonetheless, there exists a high possibility of consolidation continuation. The initial resistance and support levels are at 106.27 and at 105.84, respectively. Positions may be opened once these lines are breached.
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Tue, 13 Mar 2012 08:02:20 GMT

EUR/JPY 10M Chart: Downside channel

EUR/JPY continues its rebound from a support level at 107.51. The pair has formed a downside channel on 10M chart with 50% quality and 55% magnitude within 158 bars.The Euro remains bullish after it has rebounded from channel support level at 107.51. If growth continues the Euro may break resistance around 108.00. This price level can be critical for short

Wed, 07 Mar 2012 14:59:28 GMT

USD/CHF M30 Chart: Rising Wedge

The rising wedge has formed on USD/CHF M30 chart. The pattern has quality of 68% and the magnitude of 98%. Pattern started on February 27th. Price is in the final stage of consolidation and now is trying to bounce from the support level at 0.9180. Bullish traders are expecting resistance breakout near 0.9215 with initial target 0.9300. Primary target for sellers is around 0.9120.

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