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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (127.15 to 125.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (127.15)
    • Trough on 07/10/2015
    • Trough on 07/09/2015
    • Trough on 07/08/2015
    • Support on 07/08/2015
    • Resistance on 04/29/2015
    • Resistance on 02/20/2015
  • Ending of entry zone (125.50)
    • Resistance on 04/27/2015
    • Resistance on 04/24/2015
    • Resistance on 04/23/2015
    • Resistance on 04/22/2015
    • Resistance on 04/21/2015
    • Resistance on 03/03/2015
    • Resistance on 03/02/2015
    • Resistance on 02/27/2015
    • Resistance on 02/26/2015
    • Resistance on 02/25/2015
    • Resistance on 02/24/2015

DateAugust 2, 2015 - 12:35
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • A peak is formed in daily chart at 131.35 on 07/15/2015, so more losses minimum to Trend Hunter Buy Zone (127.15 to 125.50) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 128.20
  2. 129.70
  3. 130.85
  4. 132.45
  5. 134.60
  6. 138.30
  7. 156.35
  8. 1248.00
Click on the level to view price action history.