CHF/JPY 1H Chart: Descending channel in sight - Trade Pattern Ideas - Dukascopy Bank

Fri, 15 May 2020 12:27:11 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The CHF/JPY currency pair has been trading within a descending channel since the beginning of April. The pair has already surpassed the Fibo 23.60% at 110.05.  

From a theoretical point of view, it is likely that the exchange rate could continue to trade within the given channel in the medium term. In this case it is likely that the rate could decline to the 108.00 level by the middle of June. 

Meanwhile, note that the currency pair is pressured by the 55– and 100-hour moving averages. Thus, if the given channel does not hold, it is likely that a breakout south could occur within the following trading sessions.


Back to feed
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.