HKD/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Japanese Yen is losing its ground versus the Hong Kong Dollar since the beginning of December. At the moment of writing the pair was trading just slightly above the 200-hour SMA. A drop below this level is unlikely, as tools of technical analysis are suggesting further appreciation. Hence, market sentiment is strongly bullish, as 73.32% of traders are holding long positions. Moreover, aggregate technical indicators are sending "buy" signals, also supporting the case the pair will climb toward recent high at 13.276. In case the level is breached, December's 10 high will be put on the map.
© Dukascopy Bank SA
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Fri, 13 Dec 2013 07:47:59 GMT

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