HKD/JPY 4h Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The Hong Kong Dollar is depreciating against the more secure Japanese Yen in a descending channel pattern. Meanwhile, the currency exchange rate has shown that its movements are highly affected by the Fibonacci retracement levels, which are measured by connecting the 2016 December low and high levels. The relevant retracement level measurement is a rather unconventional in this case. All in all, the currency pair is headed in accordance with the pattern down to the 38.20% Fibonacci retracement level, which is located at the 13.91 mark. However, in a much shorter term it can be observed that there are various support levels, which are slowing down the decline of the Hong Kong Dollar against the Yen.

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