USD/JPY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The U.S. Dollar has been appreciating versus the Japanese Yen since late October; however, the pair stated to shape a channel up pattern only in early December after it approached a five-month high. Whilst wandering in the corridor, the pair continued to rally, reaching more than a five-year high of 105.43 in early January. This was a toilsome escalation that enfeebled the pair and sent it to the lower boundary of the pattern, not far away from which it is trading now. Meanwhile, market players believe the pair is capable to jump again; more than 78% of orders are placed to buy the pair.
© Dukascopy Bank SA
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