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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (125.58 to 127.10). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (125.58)
  • Ending of entry zone (127.10)

DateFebruary 11, 2022 - 20:01
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 127.100, beginning of downtrend is expected.
  • We make sure when the support at 122.500 breaks.
  • If the resistance at 127.100 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 125.501 on 2021-11-02 and the peak at 127.068 on 2022-01-04, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 125.58 on 02/10/2022, so more losses to support(s) 123.70 and minimum to Major Support (122.50) 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 49.

Take Profits:

  1. 123.70
  2. 122.50
  3. 121.09
  4. 118.90
  5. 117.55
Click on the level to view price action history.