EUR/JPY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Japanese yen has been losing value for quite some time now. As a consequence Channel formations are rather often met with this currency now. Although pair started the week in a rather volatile fashion we should notice that  technical indicators almost unanimously point at the further recovery of the pair. Taking in to account that last pairs touch point with the pattern was pattern's support this gives strong indications about the further appreciation of the pair.

© Dukascopy Bank SA
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