CHF/JPY 4H Chart: Trades in narrow channel - Trade Pattern Ideas - Dukascopy Bank
Fri, 19 Oct 2018 06:03:11 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Buy
RSI (14)
Neutral
Buy
Neutral
Stochastic (5; 3)
Buy
Neutral
Buy
Alligator (13; 8; 5)
Sell
Sell
Buy
SAR (0.02; 0.2)
Sell
Sell
Sell
Aggregate
⇒
⇒
⇗
The Swiss Franc has been trading in a narrow descending channel against the Japanese Yen. This decline began after the currency pair hit a resistance level formed by the weekly R1 at 117.96.
The exchange rate was trading near a support line set by the weekly S1 at 112.44 during the morning hours of Friday's trading session.
If the support level holds, the currency exchange rate could aim at the 50-hour simple moving average at 113.40 within this session.
On the other hand, if the CHF/JPY pair passes the support line as mentioned above, the next target will be at a cluster near the 111.77 regions during the following trading sessions.
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.