EUR/JPY 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 143-hour long channel down pattern was formed by EUR/JPY in the beginning of October. The pair has been gradually retreating since then, being trapped between two downward-sloping lines. Despite a slight appreciation on November 11, market sentiment remained mixed, with 50.00% of traders being bullish on the instrument and 50.00%-bearish. If the bullish outlook materializes, the next stop will be four-hour pivot point at 132.30, if the opposite comes true, the pair will target 50-hour SMA at 132.20 that acts as a strong support.
© Dukascopy Bank SA
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