EUR/JPY 30M Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
A large-scale channel down pattern has been leading EUR/JPY south since the March high of 122.61, but has failed to sketch solid waves with the pair setting correction phases with various patterns instead of showing a consistent movement. The latest development led to the emergence of a junior descending channel which appears to be leading a movement south to 115.28 instead of letting a rally extend to the upper bound as it is supposed to. The current setting displays trouble for both patterns with most of the risks lying below as the cross strongly tests the lower boundary of the junior channel. It looks like a break is indeed going to open the way for tests of 115.30.
© Dukascopy Bank SA
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Fri, 14 Apr 2017 11:41:48 GMT

AUD/JPY 4H Chart: Channel Down

The Australian Dollar remains simultaneously in two descending channels against the Japanese Yen, as the currency exchange rate has passed the 23.60% Fibonacci retracement, which is located at the 83.94 level. Most recently the currency pair reached the combined support of the dominant channel's lower trend line and the 38.20% Fibonacci retracement level, which is located at the 81.77 mark.

Fri, 14 Apr 2017 07:01:17 GMT

CHF/SGD 1H Chart: Channel Down

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