ZAR/JPY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The situation on the chart of the South African Rand against the Japanese yen is hard to explain, as two channels have formed a triangle in the middle of another channel. However, the future movements of the currency exchange rate due to that reason are easy to forecast. The currency exchange rate recently rebounded against the combined support level of the two lower trend lines of the minor channels combined with the 200-period SMA. As a result a surge has begun, which is heading for the upper trend line of the short term descending channel. If the resistance of that trend line is broken, a breakout of the triangle might begin. On the other hand, in the case of a bounce off a retreat to the support of the medium term channel would begin.
© 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.