CAD/JPY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
As it is the US Election Day, and Trump and Hillary go head to toe in a battle for the presidency of the United States, that is all which is going to affect the markets today and in the next few trading sessions. Due to that a few interesting cases of trends are being looked at during today. First is the CAD/JPY currency exchange rate, which trades in a large scale descending channel pattern. In addition, the rate was falling after bouncing off the larger channel's resistance in another falling channel. However, the medium term channel was broken, as the FBI director made his last announcement. It is recommended by our team to look at this rate after the election, as it is likely to remain in the large scale channel's borders.
© Dukascopy Bank SA
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