USD/JPY 1D Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Judging by the latest developments in USD/JPY, namely emergence of a descending triangle, the demand for the US Dollar is currently weakening. Accordingly, there is an increased chance of a break-out to the downside.
If the support at 116 is violated, the bears will likely push the price six figures south, towards the demand area around 110, created by the monthly S3, 200-day SMA and 2014 Sep high. However, if the down-trend at 119 gives in first, the bulls will have a good opportunity to invalidate the bearish scenario and re-challenge last year's highs (121-122). Meanwhile, the SWFX sentiment is bullish, 59% of open positions are long.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 02 Feb 2015 15:07:42 GMT

USD/SEK 1H Chart: Triangle

Even though the eventual break-out of the American Dollar from triangle has already took place to the south, the nearest future of the USD/SEK pair is still undecided. At the moment a very strong support for the cross is provided by a dense demand area around 8.27 (weekly and daily PP; 55-hour SMA). Moreover, this cluster of supports is followed by

Mon, 02 Feb 2015 06:54:29 GMT

EUR/GBP 1H Chart: Channel Up

Right now EUR/GBP is trading within the boundaries of the bullish channel, as the pair was unable to push through the demand area at 0.74 on Jan 25. However, a similar pattern emerged during the Jan 15-22 period, and subsequently there was a break-out to the down-side, suggesting this is also but an upward correction, and the bearish risks are

Subscribe to "Fundamental Analysis" feed

Souscrire
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.