Patterns: AUD/CHF, CHF/JPY

Dukascopy Bank Team Dukascopy Bank SA

CHF/JPY 4H Chart: Breaches 50-hour SMA

The Swiss Franc has been appreciating against the Japanese Yen in an ascending channel pattern since the end of October when the currency pair reversed from the bottom border of its channel at 112.00.

The CHF/JPY exchange rate breached the 50-hour simple moving average at 113.65 during the Asian session on Friday.

As for the near future, it is likely that bullish traders could push the currency exchange rate towards the upper boundary of the channel pattern at 114.78 during the following trading sessions.

Furthermore, technical indicators are in favour of bullish momentum within this session.

AUD/CHF 4H Chart: Surge insight

The Australian Dollar has been trading in a three-month ascending channel pattern against the Swiss Franc. The exchange rate bounced off its lower boundary on September 10 and followed by an upside wave.

The currency pair was trading near the bottom border of the channel pattern at 0.7170 during the morning hours of Friday's session.

If the support level set by the lower boundary of the given channel holds, the currency exchange rate will aim at a resistance cluster formed by the weekly, the monthly PPs and the combination of the 50– and 100-hour SMAs at 0.7261.

However, technical indicators suggest that this advances might not happen immediately.

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.