CHF/JPY 1D Chart: Piercing resistance

Source: Dukascopy Bank SA

Indicator 1D 1W 1MN
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Buy
Alligator (13; 8; 5) Sell Neutral Neutral
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

Recent development have caused trouble on the CHF/JPY charts. In general a breakout from a triangle pattern was expected to the upside, as the dominant pattern has the form of an ascending channel. 

However, that has not occurred properly. The currency exchange rate has two times pierced the resistance line of the junior pattern, but the resulting surges were quickly stopped by various resistance levels. 

Although, this indicates that the rate should eventually surge higher, if the support line of the dominant channel holds its ground.

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