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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trading suggestion:

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

DateSeptember 16, 2018 - 18:48
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

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

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • The RSI bounced from the resistance #1 at 76 and it prevented price from more gains.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 113.85 on 09/11/2018, so more gains to resistance(s) 116.15, 117.35, 118.55 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 68.

Supports and Resistances:

  1. 100.00
  2. 101.80
  3. 104.15
  4. 105.90
  5. 108.50
  6. 110.30
  7. 110.80
  8. 112.25
  9. 113.25
  10. 113.85
  11. 114.70
  12. 116.15
  13. 117.35
  14. 118.55
Click on the level to view price action history.