HKD/JPY 1D Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Although the pattern started in the beginning of the April, the pair started narrowing  its trading range ((6000 pips in 50 bar period) only in the second part of may. Pair was in a 32 week almost constant rally before then. Fibonacci retracements on this whole move might have had some impact on the pair, but it seems that this effect has completely worn off by now. The pair's moves in the recent days and the short and medium term technicals suggest that the pair should remain in the pattern's boundaries in the nearest future. For the long term, however, we have a clear indication of a bullish breakout.

© Dukascopy Bank SA
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