HKD/JPY 4H Chart: Channel Down

Right now the rate is fluctuating in proximity to the upper boundary of the pattern at 13.1436, which is reinforced by the weekly and daily pivot points. Accordingly, there is a good chance that the Hong Kong Dollar will fall from here down to the one-month trend-line at 12.80. This scenario is also supported by the four-hour technical indicators and the majority of the SWFX market participants—72% of them are bearish towards HKD/JPY.