05/04/2017

Trade Pattern Ideas

Dukascopy Bank SA, Route de Pre-Bois 20, International Center Cointrin, Entrance H, 1215 Geneva 15, Switzerland tel: +41 (0) 22 799 4888, fax: +41 (0) 22 799 4880 research@dukascopy.com

Wednesday, April 05, 2017 07:30 GMT

Comment: The Greenback is

depreciating against the Japanese Yen

simultaneously in two descending

channel patterns. In general, the

currency exchange rate is moving

downwards in the junior pattern to

the lower trend line of the dominant

pattern. However, on its way lower

the Buck might find support against

the Yen, as the 50.00% Fibonacci

retracement level is located at the

109.41 level. The most relevant

Fibonacci retracement levels for this

pair are measured by connecting the

2017 high level with the 2016

September low level. The hypothesis

of a decline is supported by the fact

that the currency pair is close to being

considered overbought, as 70% of

open SWFX positions are long.

USD/JPY 4H Chart: Channel Down

Level Rationale Indicator 4H 1D 1W

R4 112.34/36 Monthly PP; weekly R1 MACD (12; 26; 9) Sell Sell Buy

R3 111.96 100-period SMA RSI (14) Neutral Neutral Neutral

R2 111.47/55 Trend line; 38.20% Fibo Stochastic (5; 3; 3) Sell Sell Sell

R1 111.02/24 ADX (14) Neutral Sell Neutral 55-period SMA; weekly PP

CCI (14) Neutral Neutral Buy S1 110.27 Weekly S1

S2 109.34/15 50.00% Fibo; monthly S1; weekly S2 AROON (14) Buy Buy Buy

S3 108.92 Trend line Alligator (13; 8; 5) Sell Sell Neutral

S4 108.50 Trend line SAR (0.02; 0.2) Sell Sell Sell

Aggregate ↘ ↘ →

Dukascopy Bank SA, Route de Pre-Bois 20, International Center Cointrin, Entrance H, 1215 Geneva 15, Switzerland tel: +41 (0) 22 799 4888, fax: +41 (0) 22 799 4880 research@dukascopy.com

Wednesday, April 05, 2017 07:30 GMT

Comment: The latest developments

during the past four trading sessions

on the SGD/JPY currency exchange

rate have pressured for the need of a

review of the rate. The hypothesis of

a bounce off from the 200-period

SMA fulfilled itself, as the currency

exchange rate changed its direction,

and the previously active ascending

channel pattern has become

obsolete. As a result a medium term

descending channel has revealed

itself. Moreover, a junior descending

channel can also be mapped on the

chart. In addition, after a deeper

analysis it can be concluded that the

200-period SMA was assisted by a

38.20% Fibonacci retracement level at

80.30, which is measured by

connecting the 2015 high and 2016

low levels.

SGD/JPY 4H Chart: Channel Down

Level Rationale Indicator 4H 1D 1W

R4 79.97/98 Trend line; 100-period SMA MACD (12; 26; 9) Sell Sell Buy

R3 79.68 Weekly PP RSI (14) Neutral Neutral Neutral

R2 79.49 55-period SMA Stochastic (5; 3; 3) Sell Sell Sell

R1 79.22 ADX (14) Neutral Neutral Neutral Trend line

CCI (14) Neutral Neutral Buy S1 79.10 Weekly S1

S2 78.70 Monthly S1 AROON (14) Buy Buy Buy

S3 78.53/42 Trend line; weekly S2 Alligator (13; 8; 5) Sell Sell Buy

S4 78.32 Trend line SAR (0.02; 0.2) Sell Sell Buy

Aggregate ↘ ↘ ↗

Dukascopy Bank SA, Route de Pre-Bois 20, International Center Cointrin, Entrance H, 1215 Geneva 15, Switzerland tel: +41 (0) 22 799 4888, fax: +41 (0) 22 799 4880 research@dukascopy.com

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