HKD/JPY 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The value of the HKD/JPY currency pair has been increasing since the beginning of the previous week. Moreover, after a correction, which took place several days ago, the Hong Kong Dollar is gaining new bullish momentum, meaning that we should see a recovery in the near term. The pair has already consolidated above the crucial resistance area at 15.48-15.53. As market sentiment is strongly positive (71%) with respect to the pair, we tend to support traders' point of view. However, as soon as the pair touches the weekly R1 at 15.70, which guards the pattern's upper trend-line, we are highly likely to observe a new correction phase emerging in the one-hour chart.
© Dukascopy Bank SA
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Wed, 16 Sep 2015 13:33:05 GMT

CHF/JPY 4H Chart: Channel Down

CHF/JPY is testing the northern boundary of the bearish pattern now, but bulls are unlikely to succeed in penetrating this important resistance, which is reinforced by 100 and 200-period SMAs from above. On the other hand, the pair should also find it difficult to escape the vicinity of major levels surrounding the spot price. In case bears eventually push CHF/JPY

Wed, 16 Sep 2015 05:43:17 GMT

EUR/CHF 1H Chart: Channel Up

We consider the risks in EUR/CHF being heavily skewed to the upside right now, even though the technical studies are mixed. The reasons are that the currency pair has recently crossed the long-term moving average to the upside, and it has also confirmed the lower trend-line forming the bullish channel. Accordingly, the base scenario is a 150-pip recovery from 1.0975.

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