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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

Trading suggestion:

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

DateOctober 23, 2021 - 13:36
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 120.600 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 118.95 on 10/04/2021, so more gains to resistance(s) 124.50, 125.80, 128.20 and more heights 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 74.

Supports and Resistances:

  1. 120.00
  2. 118.90
  3. 118.04
  4. 117.55
  5. 116.55
  6. 115.83
  7. 114.64
  8. 113.70
  9. 112.60
Click on the level to view price action history.