Monday, October 8, 2012

USD/JPY 1H Chart Channel Up - October 8, 2012

USD/JPY 1H Chart Channel Up - October 8, 2012


USD/JPY has formed a Channel Up pattern on 1H chart. The pattern has 66% quality and 62% magnitude in the 70-bar period.
The pattern started when the pair started appreciating from 77.797; currently it is trading at 78.531.
Technical indicators on aggregate point at appreciation of the pair on 4H horizon suggesting that pair will continue to follow pattern's, upward sloping, trend. Read more