CAD/JPY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Canadian Dollar has been trading mostly higher versus the Japanese Yen since early November and in the very beginning of December the pair commenced to shape a channel up pattern. Now the pair is faltering close to a seven-month high hit several hours earlier. As concerns potential moves of the pair, it may return to the recent high and even surpass it as 71.43% of market participants are bullish on the pair. This also may lead to a breakout given the proximity of the pattern's resistance as well as bullishness of the technical indicators.
© Dukascopy Bank SA
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Tue, 31 Dec 2013 12:02:58 GMT

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