CHF/JPY 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Franc-yen cross has became much more volatile recently after it moved away from the course it has been in since 24th of July. Recent rally was cause by a bullish impetus pair received from 200-bar SMA and as short and medium term technicals suggest it should continue further. There is a chance that this whole volatility is caused just due to the 200-bar SMA. This has happened already quite a few times in the length of the pattern. In favour for further bearishness come the short term stochastic indicator which is constructed to predict main turning point of the pair and at the moment it gives clear sell signal. 

© Dukascopy Bank SA
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