HKD/JPY 4H Chart: Bulls could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuySell
Aggregate⇗⇒⇘

[ANNOUNCE] The HKD/JPY exchange rate has been trading sideways within a symmetrical triangle pattern since the middle of August. [/ANNOUNCE] 

Given that the currency pair is supported by the 55-, 100– and 200-period SMAs in the 13.60 area, it is likely that a breakout north could occur in the nearest future. In this case the pair could target the Fibo 38.20% at 14.04. 

In the meantime, it is unlikely that bears could prevail in the market, and the exchange rate could decline below the monthly S2 located at the 13.43 mark.

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