Investing.com - Financial Markets Worldwide

CHF/JPY Continues To Decline Inside Clear Triangle Chart Pattern

ByAutoChartist
Published 10/10/2012, 06:33 AM
CHF/JPY continues to decline inside the Clear Triangle chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this Triangle at the 5 bar level as a result of the low Initial Trend (one bar), significant Uniformity (7 bars) and higher Clarity (8 bars).

This chart pattern is developing in accordance with the prevailing downtrend visible on the weekly CHF/JPY charts. The top of this Triangle (point A on the chart below) formed when the pair reversed down from the strong resistance area lying at the intersection of the 50% Fibonacci Retracement of the preceding sharp weekly downward price impulse from March of this year and the weekly upper Bollinger Band. The pair is expected to fall further toward the lower support trendline of this Triangle.
Dailyfx 1
The weekly CHF/JPY chart below shows the aforementioned technical price levels:
CHF/JPY

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.