By: Dima Chernovolov

CHF/JPY continues to rise inside the 30-minute Up Channel chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Up Channel at the 7-bar level – which is the result of the significant Initial Trend (7 bars), above-average Uniformity (6 bars) and strong Clarity (8 bars). CHF/JPY is expected to rise further inside this Up Channel – in line with the earlier upward reversal from the key support area shown below.

As can be seen from the weekly CHF/JPY below, the pair previously reversed up with the weekly Hammer with from the support area lying between the long-term support level 109.10 (which has been reversing the price from the middle of 2018) and the lower weekly Bollinger Band.  The proximity of this support zone increases the probability CHF/JPY will continue to rise inside this Up Channel.

To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.

 

For further information on this and other Autochartist products visit www.autochartist.com

 

0 Likes
1389 Views

You may also like

Leave A Comment

Please enter your name. Please enter an valid email address. Please enter message.