CHF/JPY 4H Chart: Breaches support cluster - Trade Pattern Ideas - Dukascopy Bank

Wed, 19 Dec 2018 06:47:01 GMT
Source: Dukascopy Bank SA
 

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The Swiss Franc has lost about 1.30% of its values against the Japanese Yen since December 11. The decline has led the currency pair to breakout through the lower boundary of a junior ascending channel pattern.

The exchange rate breached a support cluster formed by the monthly and the weekly pivot points at 113.30 during the morning hours of Wednesday's trading session.

As for the near future, it is likely that the CHF/JPY currency exchange rate edges lower towards the bottom border of a dominant ascending channel at 112.50.


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