EUR/JPY is on shaky ground
The euro is fundamentally weak
Important levels for CHF/JPY
Information is not investment advice
Trade ideas:
SELL 108.60; TP 108.25; SL 108.75
BUY 109.15; TP 109.40; SL 109.05
CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area. That is a likely scenario as the yen seems like the stronger safe haven than the franc.
The overall downtrend is in place since September 2018. On H1 moving averages made a negative intersection. The outlook will remain negative as long as CHF/JPY stays below the weekly pivot at 109.05. If the pair managed to return above 109.15, it will be able to retest 109.40. Still, another return to 109.75 will make us once again look for the opportunities to make a sell trade.
Elizabeth Belugina
Similar
AUD/CHF may recover
AUD/CHF is trading within a long-term downtrend. Now there’s scope for a bullish correction.
Levels for trading USD/CAD
To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).
Popular
EURNZD is in the overbought zone
Technical analysis of EURNZD
EURGBP got a boost
Will EURGBP continue its movement up?
EUR/JPY is on shaky ground
The euro is fundamentally weak
Choose your payment system
