EUR/JPY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/JPY was trading sideways during eight months ended November 6 when the pair commenced an appreciation that allowed the EUR/JPY to shape a narrow channel up pattern. At the moment of writing, the currency pair was faltering close to the upper limit of the pattern and may breach this resistance given that 68.25% of market players are bullish on the pair. Furthermore, technical indicators are sending bullish signals for short and medium-term, adding to signs that the bullish breakout may appear before long.
© Dukascopy Bank SA
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Mon, 09 Dec 2013 10:43:46 GMT

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