USD/JPY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Greenback failed to break through the resistance put up by the 2016 high level against the Japanese Yen. As a result a decline of the rate began, and a descending channel pattern formed. The channel directed the rate from the 2016 high level of 118.67 to the 23.60% Fibonacci retracement level at 114.04. The Fibonacci retracement levels are measured by connecting the mentioned 2016 high level with the 2016 low level of June 24 of 99.04. Most recently the Yen made its second attempt to break through the retracement level. However, it failed to appreciate against the US Dollar further. Due to that it can be assumed that the currency exchange rate is set to surge.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.