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28 Mar 2014
CHFJPY consolidates with bearish bias in Asia
FXStreet (Moscow) - CHFJPY touched 115.06 early in Asia after the Japanese macro releases, but managed to rebound to current level of 115.17.
CHFJPY is ready for a change
CHFJPY tested waters below 115.00 on Thursday, but finished the day nearly unchanged. The Swiss currency has been cautiously strong against JPY lately, which means that traders consider CHF safer than JPY. The rate differential is also an important factor as BOJ is viewed as more inclined to further stimulus than SNB. The weekly chart shows that the long-term trend still points to the North, lower weekly tops coupled with dark cloud cover are the early signals of possible shift in long-term sentiments. On the intraday basis the cross is likely to stay within a broad range. It is the last Friday before the end of the financial year in Japan, so the traders may prefer to stay on the sidelines. Now that the key Japanese data is behind us, watch out for geopolitical developments as they may cause a splash of volatility in the cross. The nearest intraday resistance is seen at 115.30 and followed by 115.50. The downside will be limited by yesterday’s lows at 114.90.
What are today’s key CHF/JPY levels?
Today's central pivot point can be found at 115.28, with support below at 114.93, 114.61 and 114.27, with resistance above at 115.60, 115.95 and 116.27. Hourly Moving Averages are bearish, with the 200SMA at 115.86 and the daily 20EMA at 115.86. Hourly RSI is neutral at 45
CHFJPY is ready for a change
CHFJPY tested waters below 115.00 on Thursday, but finished the day nearly unchanged. The Swiss currency has been cautiously strong against JPY lately, which means that traders consider CHF safer than JPY. The rate differential is also an important factor as BOJ is viewed as more inclined to further stimulus than SNB. The weekly chart shows that the long-term trend still points to the North, lower weekly tops coupled with dark cloud cover are the early signals of possible shift in long-term sentiments. On the intraday basis the cross is likely to stay within a broad range. It is the last Friday before the end of the financial year in Japan, so the traders may prefer to stay on the sidelines. Now that the key Japanese data is behind us, watch out for geopolitical developments as they may cause a splash of volatility in the cross. The nearest intraday resistance is seen at 115.30 and followed by 115.50. The downside will be limited by yesterday’s lows at 114.90.
What are today’s key CHF/JPY levels?
Today's central pivot point can be found at 115.28, with support below at 114.93, 114.61 and 114.27, with resistance above at 115.60, 115.95 and 116.27. Hourly Moving Averages are bearish, with the 200SMA at 115.86 and the daily 20EMA at 115.86. Hourly RSI is neutral at 45