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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.

DateMay 2, 2022 - 20:13
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 136.168, beginning of downtrend is expected.
  • We make sure when the support at 130.178 breaks.
  • If the resistance at 136.168 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 131.905 on 04/27/2022, so more gains maximum to Major Resistance (136.168) 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 53.

Supports and Resistances:

  1. 132.892
  2. 128.812
  3. 127.100
  4. 124.068
  5. 122.500
  6. 121.090
  7. 118.900
  8. 117.550
Click on the level to view price action history.