CHF/JPY 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
On Thursday, the Japanese Yen has lost more than 1% against the greenback and 0.8% versus the single currency, and it is still losing ground against the Swiss Franc. The rising wedge pattern is moving to its apex, as both trend lines will converge on August 26, so not later than in 4 days we are likely to see a breakout, which in turn can lead to some significant movement. When taking into account only signals from technical indicators, the pair is likely to penetrate the upper trend line, rather than the lower one. However, Obama's possible announcement of the next Fed's Chairman can add some turbulence into markets.
© Dukascopy Bank SA
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