GBP/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having found solid support between the price of 175 and 176 yen, the Sterling appears to be forming a bullish channel. In order to confirm the pattern, the currency pair must rebound from 177.70 (up-trend and daily PP) and subsequently rise beyond the Apr 8 high at 179.30.
Conversely, if the bears overpower the buying pressure, the demand area to try to stop the decline will be a cluster of supports around 177.20, where the daily S1 coincides with the weekly PP and 200-hour SMA. As for the sentiment, the SWFX markets seem undecided with respect to the pair's perspectives, as 47% of positions are long and 53% are short.
© Dukascopy Bank SA
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Tue, 21 Apr 2015 12:45:10 GMT

EUR/USD 1H Chart: Channel Down

The current pattern with one of the highest quality and magnitude indicators was formed by one of the most traded currency pairs, namely EUR/USD. Following a period of stabilisation, the single currency started depreciating against the Greenback on April 6. Since then the cross covered more than 300 one-hour candles. At the moment it is expected that the pace of

Tue, 21 Apr 2015 09:29:32 GMT

EUR/JPY 1H Chart: Channel Up

At the moment EUR/JPY is trading within the borders of a bullish channel, but the upside is expected to be limited by the major down-trend line at 129.50. The near-term outlook is positive, since the currency pair is well-supported at 127.80 (weekly PP, 200-hour SMA, and up-trend) and the hourly studies are pointing up. Meanwhile, the longer-term prospects are bearish,

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