Yen-Strength Throws GBP/JPY Back at Rising Channel Support

The poor ADP employment release brought a wave of risk aversion, boosting the JPY and the CHF. Also, note soft UK manufacturing PMI not helping the sterling-rally that was so sharp last week.

GBP/JPY, which has shown bullish strength in a rising channel is pushed back to the support. The ability

Source: ActionForexall Rss Feed

EURUSD: Eyes Channel Support

As our expected corrective weakness was triggered and sent the pair lower on Thursday, further downside risk is now building up towards its channel support at 1.4420.We look for that level to provide a strong support and turn the pair higher in the direction of its long term uptrend. Further

An Intraday CAD/JPY Sideways Channel is Creating Scalping Environment

As the CAD/JPY pair has consolidated towards the downside in recent weeks, a sideways channel has emerged, though a new pattern could be on the verge of forming.

Double Bottom Spotted as USD/CAD is Contained Within Channel

The 1H chart shows the USD/CAD failing to establish bearish momentum, as the RSI reading remained above 30. Also, a double bottom is spotted, and a throwback has respected the consolidation pattern.

The 4H chart shows a couple of scenarios.

The first one is that we have completed a flag pattern, and