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18 Mar 2014
CHFJPY is poking at the resistance of 116.65
FXStreet (Moscow) - CHFJPY is trying to take out the short-term resistance at 116.50/54 early in Asia
CHFJPY is between the devil and the deep blue see
CHFJPY is trying to develop the upside movement after a short period of consolidation on Friday. The cross closed at 116.49 on Monday, 30 pips higher from the opening level. It means that CHF downside bias is stronger than the JPY selling pressure. Both currencies are regarded as safe heaven so they often negate each other’s underlying dynamics. From the technical point of view the cross has crept above 4h 50 EMA at 116.54 after a sharp drop on Thursday last week, should the bulls manage to settle above, they will bump into strong offers seen at 116.65. As long as this area caps the upside, bears are considered to be in control over the situation. The strong support is seen at 116.00 and followed by 115.76.
What are today’s key CHF/JPY levels?
Today's central pivot point can be found at 116.46, with support below at 116.10, 115.65 and 115.28, with resistance above at 116.91, 117.28 and 117.73. Hourly Moving Averages are mixed, with the 200SMA at 116.86 and the daily 20EMA at 116.00. Hourly RSI is neutral at 57
CHFJPY is between the devil and the deep blue see
CHFJPY is trying to develop the upside movement after a short period of consolidation on Friday. The cross closed at 116.49 on Monday, 30 pips higher from the opening level. It means that CHF downside bias is stronger than the JPY selling pressure. Both currencies are regarded as safe heaven so they often negate each other’s underlying dynamics. From the technical point of view the cross has crept above 4h 50 EMA at 116.54 after a sharp drop on Thursday last week, should the bulls manage to settle above, they will bump into strong offers seen at 116.65. As long as this area caps the upside, bears are considered to be in control over the situation. The strong support is seen at 116.00 and followed by 115.76.
What are today’s key CHF/JPY levels?
Today's central pivot point can be found at 116.46, with support below at 116.10, 115.65 and 115.28, with resistance above at 116.91, 117.28 and 117.73. Hourly Moving Averages are mixed, with the 200SMA at 116.86 and the daily 20EMA at 116.00. Hourly RSI is neutral at 57