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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

Trading suggestion:

Price is above the Trend Hunter Sell Zone (125.581 to 127.100).

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

  • Beginning of entry zone (125.581)
  • Ending of entry zone (127.100)

DateMarch 27, 2022 - 07:45
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

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

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 the correction wave is increased.
  • A trough is formed in daily chart at 124.235 on 03/08/2022, so more gains maximum to Trend Hunter Sell Zone (125.581 to 127.100) 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 77.

Take Profits:

  1. 124.068
  2. 122.500
  3. 121.090
  4. 118.900
  5. 117.550
Click on the level to view price action history.