Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- CHFJPY Top pick of the day

Intraday trend – Bearish

 

Major intraday Support – 137.50

 

The pair traded weak for a second consecutive week and lost more than 500 pips on a strong yen. The board-based weakness in the US dollar and increase in risk aversion support the yen at lower levels.  USDCHF is holding below 0.9500. Significant bearish trend continuation if it breaks the 0.9470 level.

 

The near-term resistance is around 138, any breach above 123.50 confirms intraday bullishness.  A jump to 138.56/139.44/140.03 is possible.             

The minor support to be watched is 137.50, the violation below will drag the pair down to 136.80/136/134.

 

Indicators (8-hour)

 

Directional movement index – Bearish

 

CCI (50) - Bearish

 

It is good to sell on rallies around 138 with SL around 139.44 for TP of 136/134.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.