Day: January 17, 2016

CHF/JPY Consolidates in Descending Triangle on 4-Hour Chart

A four-hour chart of CHF/JPY currency pair shows a clear downtrend active since December 4. The bearishness becomes particularly strong after January 1. However, the downtrend stalls into a consolidation on January 5. The consolidation eventually takes form of a descending triangle pattern. As you can see on the chart below, the triangle is marked with the yellow borderlines. The height (H) of the triangle is measured at its base. At 10% of H below the lower […]