Technical Analysis – CHFJPY rallies to an almost 2-year high

Posted on August 13, 2020 at 2:13 pm GMT

CHFJPY is advancing to an almost two-year high of 117.47 with strong momentum, confirmed by the rising 20- and 40-day simple moving averages (SMAs). The RSI indicator seems to be taking a turning point near the overbought level. However, the MACD is still extending above the trigger and zero lines. A positive run above today’s high could challenge the 118.05 – 118.55 resistance area ahead of the next round numbers of 119.00 and 120.00. After that, the 124.00 handle from December 2015 could come in focus. On the other hand, if [..]


Technical Analysis – CHFJPY slips in bullish picture in medium term

Posted on February 10, 2020 at 11:20 am GMT

CHFJPY has declined considerably after the pull back on the 113.10 zone and the 20-day simple moving average (SMA). Currently, the price is capped by the 40-day SMA and is moving near the minor rising trend line drawn from October 4 with the technical indicators moving lower. The RSI is standing below the 50 level and the MACD slipped beneath the trigger line in the positive zone. Immediate support is being provided by the ascending trend line above the 111.70 [..]


Technical Analysis – CHFJPY flies near 13-month high; positive in medium term

Posted on January 16, 2020 at 10:12 am GMT

CHFJPY has been in a flying mode over the last six days and today, it recorded a new 13-month peak of 114.30. The RSI entered the overbought territory and is still pointing up, while the MACD surpassed its trigger line with strong momentum. To the upside, the pair needs to overcome today’s top (114.30) to meet a key barrier near 114.60, registered on December 2018. The 118.05 mark could act as resistance too before a more important battle starts near 118.55, [..]


Technical Analysis – CHFJPY hovers in consolidation area; neutral in short-term

Posted on February 27, 2019 at 9:54 am GMT

CHFJPY has been trading within a consolidation area over the last couple of months with upper boundary the 111.15 resistance level and lower boundary the 108.65 support. In the very short-term, the price is currently hovering within a narrow Bollinger band, indicating very weak momentum and a possible sharper movement in the future. From the technical point of view, the RSI is pointing up near the neutral threshold of 50. Also, the MACD is flattening marginally near the zero line, indicating neutral [..]


Technical Analysis – CHFJPY bounces off 38.2% Fibonacci but bullish outlook remains in play

Posted on December 12, 2018 at 2:07 pm GMT

CHFJPY had another bearish start on Wednesday, with the price remaining below the 38.2% Fibonacci retracement level of the upleg from 108.50 to 118.05, around 114.40. Technically, in the daily timeframe, the Relative Strength Index (RSI) is moving south in the positive zone, while the MACD oscillator is losing momentum, despite that it stills stands above the trigger and zero lines. A further reversal to the downside, could find obstacle near the 20-day simple moving average (SMA) around 113.50 before [..]


Technical Analysis – CHFJPY bullish attempts alive in short term; neutral in long-term view

Posted on November 26, 2018 at 1:48 pm GMT

CHFJPY had a bullish start on Monday, with the price remaining above the 20- and 40-simple moving averages (SMAs) in the daily timeframe. These lines are ready to post a bullish crossover in the near future, suggesting that the recent rebound on the ascending trend line could continue. The RSI indicator is pointing slightly up in the positive zone, while the MACD oscillator is rising higher with weak momentum. On the upside, resistance could occur around the 113.85 barrier, while a successful break of this level [..]


Technical Analysis – CHFJPY bearish risks alive in short and medium term

Posted on November 15, 2018 at 4:13 pm GMT

CHFJPY lost significant ground after the spectacular rally towards the pair’s highest since February of 118.05, falling as low as 111.54. Even though it attempted to recoup losses early this month, the pair somewhat reentered bearish mode this week,  with the RSI flagging further weakness ahead; the indicator is currently heading south in bearish territory below 50 -notice though that it does not maintain a steep negative slope. A leg lower could meet support from the area around 112.14, where the 200-day simple moving average (SMA) and the 61.8% Fibonacci retracement of the upleg [..]


Technical Analysis – CHFJPY erases bullish rally; remains neutral in bigger view

Posted on September 10, 2018 at 1:17 pm GMT

CHFJPY has lost its positive momentum after the bounce off the six-month high of 115.30 on August 30. According to the RSI, the market could maintain negative momentum in the short-term as the indicator is negatively sloped above its neutral threshold of 50, though the fast Stochastics suggest that the market is moving towards the oversold territory and therefore some weakness is possible; the blue %K line is fluctuating slightly below the red %D line. On the downside, the price could attempt [..]


Technical Analysis – CHFJPY is ready to extend its gains above the descending triangle?

Posted on December 20, 2017 at 1:43 pm GMT

CHFJPY has been trading within a descending triangle, which is a continuation pattern, since June 2017. In a daily timeframe, the price posted the third consecutive green day. The pair tested several times the upper band of the triangle so a daily close above the descending triangle and the 115.10 strong barrier could drive the price towards the next immediate resistance level at 115.70 and 116.45, which coincides with the 200-week simple moving average (SMA). On the reverse side, in case of [..]

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