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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateAugust 31, 2019 - 19:42
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 106.250, beginning of uptrend is expected.
  • We make sure when the resistance at 111.950 breaks.
  • If the support at 106.250 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 110.80 on 07/01/2019, so more losses minimum to Major Support (106.25) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 32.

Supports and Resistances:

  1. 118.55
  2. 116.15
  3. 114.60
  4. 113.40
  5. 111.95
  6. 110.50
  7. 109.90
  8. 109.10
  9. 108.60
  10. 104.15
  11. 101.80
  12. 100.00
Click on the level to view price action history.