CHF/JPY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate
At the start of a new month the Swiss Franc met with a considerable support level against the Japanese Yen just above the 115.00 mark. That level was supported by the lower trend lines of two channel patterns. 

However, the resulting rebound has already met with resistance. The resistance is put up by the monthly PP at the 115.40 level and the weekly S1 at the 115.38 mark. 

Due to that reason a small scale ascending triangle could form until the dominant channel forces the currency exchange rate into a breakout up to the 115.70 mark. On Friday at that level the 55 and 100– hour SMAs were about to meet.

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