USD/JPY 4H Chart: Channel Down

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Source: Dukascopy Bank SA
The Greenback is depreciating against the Japanese Yen simultaneously in two descending channel patterns. In general, the currency exchange rate is moving downwards in the junior pattern to the lower trend line of the dominant pattern. However, on its way lower the Buck might find support against the Yen, as the 50.00% Fibonacci retracement level is located at the 109.41 level. The most relevant Fibonacci retracement levels for this pair are measured by connecting the 2017 high level with the 2016 September low level. The hypothesis of a decline is supported by the fact that the currency pair is close to being considered overbought, as 70% of open SWFX positions are long.
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Wed, 05 Apr 2017 08:41:47 GMT

SGD/JPY 4H Chart: Channel Down

The latest developments during the past four trading sessions on the SGD/JPY currency exchange rate have pressured for the need of a review of the rate. The hypothesis of a bounce off from the 200-period SMA fulfilled itself, as the currency exchange rate changed its direction, and the previously active ascending channel pattern has become obsolete. As a result a

Tue, 04 Apr 2017 14:14:00 GMT

NZD/USD 1H Chart: Channel Down

After testing the 0.6882 area twice, NZD/USD set it as its target once again and formed a channel down pattern to lead the motion. The pair has tested the upper trend-line last, suggesting that the target has shifted to 0.6960, the lower bound. There are, however, still several demand levels on the way at 0.6969 and 0.6942, respectively. We will

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