German DAX: Broken Channel Line Suggest More Upside, Ideally Towards 10520

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German DAX is  showing a bullish pattern which is supportive for USDJPY as well. We see a continuation pattern back to 10520 after recent bounce from 10261 followed by a current push out of a downward channel. As such, it appears that more gains may follow in sessions ahead, while 10318 support is in place.

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Gerdax 15man DAX, 1H

 

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.