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FxWirePro: BTC/CNY faces strong resistance at 7430, break above targets 7600

BTC/CNY has broken the minor resistance of 7327 high made on Apr 11th, 2017 and jumped to 7377 levels (BTCCHINA). It is currently trading around 7306 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7102

Kijun-Sen level: 6906

Major reversal level -6119 (Mar 25th low)

Long-term trend remains to be bullish. BTC/CNY faces strong resistance at 7430 and any minor bullishness only above that level.

Major resistance is around 7431 (Mar 21st high) and any break above will take the pair till 7528 (61.8% retracement of 8400 and 6119)/7600/8000. Short term support is seen at 6860 (38.2% retracement of 8400 and 6119) and any break below the will drag the pair down till 6600/ 6434 (Feb 10th low)/6119 (Mar 25th, 2017 low).

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June 28 15:30 UTC Released

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Actual

-5.279 bln

Forecast

Previous

-3.401 bln

June 28 14:30 UTC Released

BRBank Lending MM*

Actual

-0.2 %

Forecast

Previous

-0.2 %

June 28 19:00 UTC 191191m

ARBank Lending MM*

Actual

Forecast

1.9 %

Previous

0.8 %

June 28 21:00 UTC 311311m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

82 bln

June 28 23:50 UTC 481481m

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Actual

Forecast

2.6 bln JPY

Previous

3.2 bln JPY

June 28 23:50 UTC 481481m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 481481m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-331.6 bln JPY

June 28 23:50 UTC 481481m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 481481m

DERetail Sales YY

Actual

Forecast

2.6 %

Previous

3.2 %

June 28 23:50 UTC 481481m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

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