SGD/JPY 4H Chart: Channel Down

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Source: Dukascopy Bank SA
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 medium term descending channel has revealed itself. Moreover, a junior descending channel can also be mapped on the chart. In addition, after a deeper analysis it can be concluded that the 200-period SMA was assisted by a 38.20% Fibonacci retracement level at 80.30, which is measured by connecting the 2015 high and 2016 low levels.
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Wed, 05 Apr 2017 12:46:05 GMT

USD/SEK 4H Chart: Channel Up

The Greenback recently established an ascending channel pattern against the Swedish Krona. The channel represents the break of the upper trend line of a long term descending channel pattern by a medium sized ascending channel. Due to that factor it is assumed that the small scale pattern will remain in force until it reaches the upper trend line of the

Wed, 05 Apr 2017 07:54:23 GMT

USD/JPY 4H Chart: Channel Down

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

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