Note: This section contains information in English only.The steep surge CHF/JPY extended on the hourly chart shows little sustainability due to the extreme nature of the slope as well as the diminishing highs that have led to a rising wedge formation. The pair is currently bound inside of a very tight range and is closer to the bottom trend-line than the upper one, meaning that the pattern might break immediately at 113.87, which would then induce a sharp downfall, possibly after a retracement. The first outside support lies at 113.83, the weekly R1, and would open the way to 113.65 in case of a successful break below.
Fri, 10 Mar 2017 08:23:46 GMT
Source: Dukascopy Bank SA