AUD/JPY 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After moving sideways during several months, the Australian Dollar commenced a retreat against the Japanese Yen. The drop has been progressing in the corridor of two downward sloping lines that have been acting as boundaries of the 367-bar long channel down pattern. In present instant, the currency couple is moving towards the upper boundary and is likely to approach this level as suggested by market participants who are bullish on the pair in 75% of cases. Technical indicators also are sending bullish signals for medium-term but are neutral for short and long terms.
© Dukascopy Bank SA
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