CHF/JPY 4H Chart: Bullish run to continue - Trade Pattern Ideas - Dukascopy Bank
Fri, 20 Dec 2019 06:01:28 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Sell
Neutral
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇗
The Swiss Franc has been trading bullish against the Japanese Yen since the end of November. The currency pair has edged higher by 2.70% in value during this period.
Everything being equal, the CHF/JPY exchange rate will most likely continue to appreciate in the ascending channel pattern. The pair could hit a one-year high at 112.95 during the following trading session.
However, the currency exchange rate might make a brief pullback towards a support cluster formed by the 50– hour simple moving average and the combination of the weekly pivot point and the monthly R2 at 110.85 within next week's trading sessions.
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