EUR/JPY 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Comment: Current positioning of the pair and readings of the short term technicals suggest that pair is likely to advance above the pattern's resistance at 127.95. Medium term outlook, however, remains negative suggesting that pair is still facing significant downside risk, is likely to rebound from the pattern's resistance and to follow its', bearish, trend. In the long term pair should breach the pattern's resistance as a lot of signs are showing in to the recovery of the pair.

© Dukascopy Bank SA
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