EUR/JPY 1H Chart: Double Bottom

Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/JPY is willing to resume growing, after touching the second bottom of the pattern at 131.85 yesterday. However, several tough resistances are still ahead of the spot price. They include the 100 and 200-hour simple moving averages and the weekly pivot point, while all of them are placed in the 132.65/81 range. A jump above will encourage bulls for additional rally up to 133.35, where daily R2 guards the pattern's upper horizontal trend-line at the moment. If not here, we expect the selling pressure to come from the next supply at 133.92 (weekly R2), which is likely to switch attention back to the south. Bearish estimates are supported by daily indicators and 58% of SWFX market participants.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 05 Nov 2015 15:35:06 GMT

AUD/USD 4H Chart: Channel Up

This week the Aussie has already failed to cross the bunch of resistances at 0.7159/74. Despite that, we project the second attempt to take place in the nearest future, as suggested by three out of four SWFX market participants who are holding bullish positions. Once this supply area in breached, we will expect the rally to extend up to 0.7349/61

Thu, 05 Nov 2015 08:00:07 GMT

AUD/JPY 4H Chart: Channel Down

While the Aussie is bullish relatively to its Singapore counterpart, we hold a bearish bias towards AUD/JPY. The recently established channel implies that a sell-off from 87.60 will extend through the nearest supports, including the monthly PP and 200-period SMA at 86.00. Bulls are expected to temporarily gain control of the market somewhere near 85 yen, but the ensuing recovery

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.