USD/JPY 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Greenback is surging against the Japanese Yen in a medium term ascending channel. In the meantime, the pair is also in a large scale descending channel. Most recently the currency exchange rate rebounded against the upper trend line of the medium term channel, and it failed to find support in the strong levels of significance below it. A rebound in accordance with the ascending channel will encounter the resistance put up by those levels. Those levels are the 23.60% Fibonacci retracement level at 114.29 and the 200-period SMA at 114.32. The Fibonacci retracement levels are measured on this pair by connecting the December high level with the low level of last September. Due to the complexity of the situation, traders are advised to continue monitoring the rate first before making a move.
© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 17 Feb 2017 08:57:48 GMT

HKD/JPY 1H Chart: Channel Down

Following attacks at almost yearly highs of 15.24 in December 2016 and January, HKD/JPY put an end to the uptrend with a double top on the daily chart and went on to extend a slide. The pair was attempting to reverse from the bearish trend, but unsuccessfully, as channels were broken and a new—bearish one was recently established on the

Thu, 16 Feb 2017 13:29:29 GMT

EUR/AUD 4H Chart: Channel Down

The common European currency is simultaneously trading in two descending channel patterns against the Australian Dollar. The currency exchange rate has set its course to the 2015 low level of 1.3667. At that level it is possible that the rate will find strong enough support level to begin a medium term ascend. However, before that occurs, the currency pair is

Subscribe to "Fundamental Analysis" feed

Subscribe
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.