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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.

DateMay 9, 2021 - 15:59
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

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

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 117.49 on 04/23/2021, so more gains to resistance(s) 121.50, 122.00, 122.85 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 75.

Supports and Resistances:

  1. 116.35
  2. 115.70
  3. 114.60
  4. 113.70
  5. 111.95
  6. 108.65
  7. 106.75
Click on the level to view price action history.