CHF/JPY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Swiss Franc is depreciating against the Japanese Yen, as the currency exchange rate is simultaneously in two descending channels. First of all, the pair has been moving lower since June 2015, and, secondly, the rate is also in a short term channel, which represents the rate's movements near the larger channel's resistance line. In addition, the exchange rate is also highly affected by the 200-period SMA, which is heading for the larger channel's resistance line, and it will hit it at the start of November. Moreover, the short term channel's upper trend line is also set to meet with the large pattern's resistance on November 2.
© Dukascopy Bank SA
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