USD/JPY 1H Chart: Channel Up

Source: Dukascopy Bank SA
As the US Dollar traded in the large scale borders of a descending channel pattern against the Japanese Yen, a short term ascending channel was formed. The channel guided the rate on its final path to the upper trend line of the long term descending channel. Due to that factor the channel up pattern is set to be broken and the currency exchange rate is likely to retreat. However, the pair is set to face strong support levels, as it is simultaneously affected by the Fibonacci retracement levels, which are measured by connecting the 2016 low and 2015 high level, and a second set of retracement levels, which are measured via the 2017 low and high levels.

  Level  Rationale     Indicator 1H 4H 1D
R4 113.40/47 50.00% small Fibo; trend; weekly R1     MACD (12; 26; 9) Buy Buy Buy
R3 112.80/84 Trend line; monthly R1     RSI (14) Neutral Neutral Neutral
R2 112.61 55-period SMA     Stochastic (5; 3; 3) Buy Sell Sell
R1 112.45/47 50.00% large Fibo; 100-period SMA     ADX (14) Neutral Buy Buy
S1 112.36/34 Trend line; weekly PP     CCI (14) Buy Neutral Neutral
S2 112.16 38.20% small Fibo     AROON (14) Buy Buy Buy
S3 111.96 200-period SMA     Alligator (13; 8; 5) Neutral Buy Buy
S4 111.63 Weekly S1     SAR (0.02; 0.2) Sell Buy Buy
          Aggregate ↗ ↗ ↗
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Tue, 09 May 2017 06:30:04 GMT

AUD/NZD 1H Chart: Falling Wedge

After posting a top in March, AUD/NZD worked on taking the motion lower, but was not always successful as strong up-waves accompanied the movement. The current slip might also be one of those to induce an upward motion on the hourly time-frame, as a falling wedge signals bullish potential. The pair has just tested the bottom boundary of the pattern

Mon, 08 May 2017 12:13:03 GMT

GBP/AUD 1D Chart: Channel Up

The Pound is surging against the Aussie on daily chart simultaneously in two ascending channel patterns. The junior, narrow range ascending channel is a representation of the rate's rebound against the large scale pattern's lower trend line. The currency exchange rate is heading for the upper trend line of the dominant channel, as it faces no resistance on its way

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