EUR/JPY 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
After tumbling to a one-month low of 127.97 on August 11, the currency couple commenced to form a channel up pattern that took the pair to a four-month high of 133.41 touched on September 10. Having reached this high, EUR/JPY retreated slightly to trade at its daily pivot point at 132.15 sitting right above the 50-bar SMA. The pair is likely to use its daily pivot point as a prop for an advance to the four-hour resistance zone at 132.34/53 (four-hour R1, R2). A breach through this region may enfeeble the pair, but EUR/JPY may still retain some strength to attempt to overcome the daily resistance at 132.63 (daily R1) that is the last defense against a sharp appreciation of the pair.
© Dukascopy Bank SA
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Mon, 16 Sep 2013 07:00:49 GMT

CHF/JPY 4H Chart: Channel Up

CHF/JPY has been gradually appreciating since August 15, when the pair started to shape a channel up pattern. On September 11, the currency couple hit a five-month high of 107.59 that alleviated a buying pressure and forced the pair to descend to the four-hour pivot point at 107.00. Market players are strongly bullish on the pair, with 85.71% of all

Mon, 16 Sep 2013 07:00:25 GMT

EUR/CHF 1H Chart: Channel Down

A rise to a one-month high of 1.2415 on September 11 incited a sharp depreciation of the pair that has been vacillating between two downward-sloping lines thus forming a channel down pattern. After bouncing off a one-week low of 1.2341 on September 13, EUR/CHF neared its daily support region at 1.2351, and traders expect the pair to advance further (61%

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