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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