AUD/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Already for more than 200 hours the Australian Dollar has been strengthening relative to the Japanese Yen. This has led to emergence of a high-quality bullish channel. And apart from the pattern implying further appreciation of the Aussie, most of the four-hour technical indicators and as many as 64% of traders are supporting extension of the current rally.
However, the up-move is unlikely to be immediate. AUD/JPY is expected to undergo a bearish correction first. Before gaining a bullish momentum the price should touch the lower up-trend line at 94.09. Then it will be in a good position to challenge the resistance area stretching 20 pips north from 95.40.

© Dukascopy Bank SA
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Fri, 28 Mar 2014 13:34:04 GMT

AUD/CHF 1H Chart: Channel Up

Although at first there were good reasons to believe that AUD/CHF is going to continue respecting two parallel rising trend-line, eventually the rally turned out to be unsustainable. Still, the pattern may be used to estimate potential targets after a break-out. The first one is likely to be the weekly R2 level at 0.8148, but the exchange rate could drop

Fri, 28 Mar 2014 13:34:20 GMT

NZD/USD 4H Chart: Channel Up

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