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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 (149.624 to 150.695). 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 (149.624)
  • Ending of entry zone (150.695)

DateNovember 20, 2022 - 13:44
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 151.450, beginning of downtrend is expected.
  • We make sure when the support at 143.280 breaks.
  • If the resistance at 151.450 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 144.565 on 11/11/2022, so more gains to resistance(s) 147.493, 149.624, 150.695 and maximum to Major Resistance (151.450) 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 48.

Take Profits:

  1. 147.493
  2. 145.549
  3. 143.280
  4. 141.408
  5. 137.614
  6. 136.114
  7. 134.043
  8. 131.914
  9. 127.488
  10. 125.907
  11. 122.500
  12. 118.900
Click on the level to view price action history.

Symbol Released Current Forecast
Swiss Franc / Japanese Yen (CHFJPY) Sun, 29 Jan 2023
Swiss Franc / Japanese Yen (CHFJPY) Sun, 22 Jan 2023
Swiss Franc / Japanese Yen (CHFJPY) free Sun, 15 Jan 2023
Swiss Franc / Japanese Yen (CHFJPY) free Sun, 8 Jan 2023
Swiss Franc / Japanese Yen (CHFJPY) free Sat, 31 Dec 2022