CAD/JPY 1H Chart Emerging Pattern: Descending Triangle

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CHF/JPY 1H Chart

Emerging Pattern: Rectangle

CHF/JPY has formed a Rectangle on a 1H chart, being contained by two horizontal lines at 103.34 and 100.27 for the last 408 bars. However, it may be the case that the pair will be fluctuating within a channel down in the future. This will be decided by behaviour of the price at a key support line at 100.27.

CHFJPY

CAD/JPY 1H Chart

Emerging Pattern: Descending Triangle

CAD/JPY has formed a Descending Triangle on a 1H chart, as each subsequent rebound from the support at 92.02 is less and less pronounced. Judging by the traders’ sentiment (75% of positions are short), eventually 92.02 will give in to the bearish pressure, although technical indicators are currently mixed.

CADJPY

USD/NOK 1H Chart

Emerging Pattern: Channel Up

USD/NOK has formed a Channel Up on a 1H chart. Lately the price has been declining, following a confirmation of the bullish trend-line at 5.5634, but extension of a dip was halted by the 200-bar SMA. A notable majority of market participants (72%) see continuation of this bullish tendency.

USDNOK