CHF/JPY 4H Chart: Channel Up

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

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

The Swiss Franc is appreciating against the Japanese Yen in a short-term ascending channel. The pattern formed in the result of the 78-pip drop of the rate in the last days of June. Nevertheless, the junior pattern remains in line with the dominant uptrend. For the moment, the channel has two reaction lows and one reaction high. After getting an impulse from a combination of the 55- and 100-period SMAs in the second half of the previous trading day, the pair made an attempt to reach the upper trend-line for the second time. It is expected that the pair is going to make a rebound and then slide downwards to a new combined support level formed by the 20-, 55- and 100-period SMAs as well as the weekly PP at 117.30.

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