AUD/JPY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
If one maps all of the channels, by drawing all of the lines connecting tops and lows of the Australian Dollar against the Japanese Yen, it is hard to understand what is actually happening. However, the situation is not unusual, as there are three channel's, which have to be marked to understand the rate's movements. First of all on a larger scale the rate surged. Although, that is no longer the case, as during the pair's latest bounce off from the large scale pattern's resistance a strong descending channel formed. The descending channel broke through the support put up by the dominant channel's lower trend line. In addition, in that descendant channel there is another short term channel, which has guided the rate for the past weeks.
© Dukascopy Bank SA
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