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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.

DateJuly 4, 2020 - 22:03
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 114.400, beginning of downtrend is expected.
  • We make sure when the support at 111.150 breaks.
  • If the resistance at 114.400 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 46 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 111.95 on 06/19/2020, 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 58.

Supports and Resistances:

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