Repeated bounce off the two-month old ascending trend-line portrays the USDJPY’s strength but the pair needs to surpass 112.80-85 resistance-region in order to justify its capacity to conquer the 113.30 and the 113.55-60 levels to north. It should also be noted that the pair’s successful trading beyond 113.60 can escalate its recovery towards 114.05-10 and to the 114.55. Alternatively, pair’s dip below 112.00 support-line could take rest on 111.65-60, breaking which 111.00 & 110.70-65 may gain market attention. In case if sellers refrain to respect the 110.65 mark, the 110.30 & 109.80 might flash in their radars to target.
With the short-term descending trend-channel still being intact, the EURJPY can’t be termed strong unless clearing the 129.35 resistance, which if broken can stretch the upside to 130.45-50 prior to confronting the 130.65-70 barrier. Given the pair’s sustained advances past-130.70, there are multiple hurdles to clear between the 131.00 and the 131.30. On the downside, the 127.50 and the channel-support figure of 127.10, adjacent to 126.55-50 might keep limiting the pair’s immediate declines. If at all the quote drops beneath the 126.50, the 125.70, the 124.30 and the 124.85 could entertain the Bears.
CADJPY’s U-turn from 100-day SMA has to cross the 86.90 if it is to aim for 87.45-50 resistance-zone. Though, ability to rise above 87.50 could help prices to visit the 88.50 ahead of looking at the 89.20 and the 90.00 round-figure. Assuming the pair’s failure to hold recent uptick, the 100-day SMA level of 85.30, the 200-day SMA level of 85.00 and an upward slanting TL, at 84.80, may act as supports. However, a D1 close below 84.80 might not hesitate highlighting the 83.80 and the 83.20 numbers.
Even after closing below 200-day SMA, the CHFJPY is yet to close beneath the ascending support-line ranged from May lows, around 112.20, to mark itself weaker enough for visiting the 111.30 and the 110.60 supports. Should prices slide below 110.60, the 110.30, the 110.00 and the 109.50 may appear in limelight. Meanwhile, 200-day SMA level of 112.65 and the 113.15-25 area become strong resistances for the pair traders to watch during pullback, breaking which 113.85 and the 50-day SMA level of 114.35 can please the buyers. Let’s say the quote continue rising above 114.35, then the 115.00 and the 115.60 may pop-up in the Bulls’ list.