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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.

DateMarch 28, 2020 - 19:10
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 110.050, resumption of uptrend is expected.
  • We make sure when the resistance at 114.400 breaks.
  • If the support at 110.050 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 109.50 on 03/09/2020, so more gains maximum to Major Resistance (114.40) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 55.

Supports and Resistances:

  1. 116.15
  2. 111.15
  3. 110.05
  4. 108.95
  5. 104.00
  6. 103.05
  7. 101.80
  8. 100.00
Click on the level to view price action history.