USD/JPY 1D Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Starting from July 2014, the US Dollar surged considerably against the Japanese Yen. However, the upward tendency was stopped by strong supply at 122. Since then, the pair has been trading in a narrowing range and mostly sideways, which led to emergence of the ascending triangle pattern. Currently, the pair is testing the lower boundary of the pattern, while 100-day SMA should be strong enough to provide bulls with necessary impetus for future growth. In case the monthly PP at 120.16 is breached, the pair will then focus on 122 (2014 high; monthly R1). Meanwhile, the idea of a bullish scenario is shared by weekly technical indicators. Moreover, almost 74% of SWFX market participants are bullish on the Greenback versus the Yen.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 27 Apr 2015 13:50:05 GMT

EUR/TRY 1H Chart: Channel Up

Despite overall bullish tendency of the single European currency against the Turkish Lira, this  currency pair is likely to commence a bearish correction in the short-term, unless bulls are able to stop sell-offs near the weekly pivot point at 2.9361. Market participants are strongly supporting a decline of the Euro, with 71% of all opened positions being bearish at the

Fri, 24 Apr 2015 12:23:03 GMT

AUD/CHF 4H Chart: Triangle

AUD/CHF approaching a vary important point in its development. Following a sharp appreciation of the Swiss Franc in January, AUD/CHF began trading sideways and the trading range narrowed considerably. It led to emergence of a triangle pattern on a 4H chart. Technical indicators are currently neutral on this cross, meaning that we should have closer look at market sentiment and

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.