AUD/JPY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
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. Afterwards the pair rebounded and hit the upper trend line of the junior channel, against which it bounced off. Due to that reason it seems that a short term descending triangle might soon be formed, which would be followed by a breakout to the upside in accordance with the descending dominant channel.
© Dukascopy Bank SA
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Fri, 14 Apr 2017 11:42:00 GMT

USD/MXN 4H Chart: Channel Down

As the US Dollar depreciates against the Mexican Peso in a descending channel pattern, there have been some new developments, which have pressed for the need of a review of the currency exchange rate's movements. A junior descending channel pattern has reached the upper trend line of a dominant channel down pattern. As a result a bounce off is expected,

Fri, 14 Apr 2017 07:08:17 GMT

EUR/JPY 30M Chart: Channel Down

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

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