CHF/JPY 4H Chart: Trades in narrow channel - Trade Pattern Ideas - Dukascopy Bank
Fri, 06 Dec 2019 06:48:18 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Neutral
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The Swiss Franc has been trading in a narrow ascending channel pattern against the Japanese Yen since the end of November. The currency pair has surged by 1.21% in value during this period.
Everything being equal, the CHF/JPY exchange rate will likely trade south within next week's trading sessions. Bearish traders could target the 50-, 100– and 200– period SMAs at 109.66.
However, technical indicators suggest that the currency exchange rate will continue to trade north during the following trading sessions.
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