GBP/JPY 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After increasing in value for four consecutive days during the May 7-12 time period, the GBP/JPY currency pair was stopped by the 188.60 mark. As a result of that, the double top pattern was created on the hourly chart. At the moment there is a possibility that this cross will decide to form a third top in the next few days. Hourly technical studies are pointing to the downside, meaning that the Sterling is likely to depreciate down to the pattern's support, which is reinforced by weekly PP and daily S2. These levels should send the pair back to the upside, as suggested by 4H and daily indicators. Meanwhile, 59% of SWFX traders remain short on the British currency against the Yen.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 18 May 2015 14:18:04 GMT

CAD/CHF 4H Chart: Channel Down

A recent recovery of the Canadian Dollar was immediately stopped by the monthly pivot point and 200-period SMA at 0.7750. Bears gained strength at these levels and the pair started to decline. At the moment CAD/CHF is nearing the weekly and monthly S1 demand zones at 0.7570. In case the Loonie is forced to decline beyond them, the next long-term

Mon, 18 May 2015 08:08:05 GMT

AUD/JPY 4H Chart: Channel Up

AUD/JPY appears to be a good buy right now, considering that it retreated to 95.70, where the price is supposed to be underpinned by the rising trend-line and weekly pivot point. The currency pair is expected to turn around here and then surpass the May 14 high while on its way towards the upper trend-line of the pattern at 99.00.

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.