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2 Apr 2014
CHF/JPY bulls attack the key resistance of 117.60
FXStreet (Moscow) - CHF/JPY upside stopped by strong resistance of 117.60, but the bulls don’t give up the attempts to break higher
CHFJPY came close to pivotal level
CHF/JPY upside trend has resumed as it is the fourth consecutive day of the cross growing. On the longer-term scale CHF/JPY reached an important resistance area of 117.60/80, that’s where the bull stopped in early March. Should the cross manage to go higher, 118.00 will come into sight. Daily picture looks optimistic, but the above said resistance might be difficult to clear out at the first try, so CHF/JPY may start the short-term downside correction with the first target at 117.30 followed by 117.00. From the fundamental point of view, the cross movements are influenced by general JPY sentiments, and they are deeply bearish now.
What are today’s key CHF/JPY levels?
Today's central pivot point can be found at 117.11, with support below at 116.77, 116.23 and 115.89, with resistance above at 117.66, 118.00 and 118.54. Hourly Moving Averages are bluish, with the 200SMA at 115.97 and the daily 20EMA at 116.08. Hourly RSI is bearish at 80
CHFJPY came close to pivotal level
CHF/JPY upside trend has resumed as it is the fourth consecutive day of the cross growing. On the longer-term scale CHF/JPY reached an important resistance area of 117.60/80, that’s where the bull stopped in early March. Should the cross manage to go higher, 118.00 will come into sight. Daily picture looks optimistic, but the above said resistance might be difficult to clear out at the first try, so CHF/JPY may start the short-term downside correction with the first target at 117.30 followed by 117.00. From the fundamental point of view, the cross movements are influenced by general JPY sentiments, and they are deeply bearish now.
What are today’s key CHF/JPY levels?
Today's central pivot point can be found at 117.11, with support below at 116.77, 116.23 and 115.89, with resistance above at 117.66, 118.00 and 118.54. Hourly Moving Averages are bluish, with the 200SMA at 115.97 and the daily 20EMA at 116.08. Hourly RSI is bearish at 80