Important JPY Pairs’ Technical Outlook: 30.08.2017

USD/JPY

Even if 108.26 offered much required upside trigger to the USDJPY on Tuesday, the pair presently struggles to clear a month-old descending trend-line resistance, at 110.10, which indicate its pullback to 109.40 and the 109.00 nearby supports. During the pair’s follow-on declines after 109.00, the 108.65 and the 108.25 may act as intermediate halts before dragging it towards 61.8% FE level of 107.90. In case if the quote manages to surpass 110.10 TL, it can quickly rise to 110.90 and the 111.50 resistances while 112.30 could restrict its further recovery. Moreover, pair’s successful trading above 112.30 rejuvenates expectations for witnessing 112.80 & 113.50 on the screen.

EUR/JPY

eurjpy

Unlike USDJPY, the EURJPY recently cleared the 131.35 resistance and is aiming the 132.00 upward slanting TL that holds the door for its further advances in direction to 61.8% FE level of 133.10. Should prices keep rallying beyond 133.10, the 133.35-40 and the 134.50 might please Bulls. Alternatively, a daily closing below 131.35, also conquering the 131.00 mark, may fetch the pair to 130.00 and then to the 129.50 rest-points; however, 50-day SMA level of 129.20, adjacent to an ascending trend-line support of 128.30, may try confronting the Bear power. Given the sellers’ dominance flash a sub-128.30 figure on the chart, it seems wise to expect 127.45-55 region’s comeback.

CAD/JPY

cadjpy

CADJPY is another JPY pair which is trading close to its near-term resistance. The pair currently aims to challenge the 88.15-25 horizontal-line, break of which can help it visit the 89.00 and then the July high, around 89.70. If at all buyers continue preferring the pair after 89.70, the 90.00 psychological-mark and the 61.8% FE level of 91.10 are likely north-side numbers to entertain them. Meanwhile, 87.30 and the 86.80 may be considered as immediate supports for the pair but an upward slanting TL, at 86.55, can restrict the pair’s decline afterwards. In case of the pair’s additional downside below 86.55, the 86.00 could play its role of a barrier ahead of reigniting the importance of 85.45-30 region.

CHF/JPY

chfjpy

Although CHFJPY trades at the highest level in a month, the 115.35-50 resistance-zone, including 50-day SMA, may confine the pair’s additional upside and can trigger its pullback towards 114.50 and the 100-day SMA level of 114.15. In case of the pair’s following declines below 114.15, the 113.50 and the ascending TL figure 112.85 should be given proper attention. On the upside, a daily close beyond 115.50 can extend the pair’s advances to 116.00 and the 116.40 resistances while 117.00 and the 117.80 seem crucial then after. If at all the optimists keep respecting the pair’s north-run above 117.80, the July month high of 118.60 and the 120.00 round-figure might play their roles.

Cheers and Safe Trading,
Anil Panchal

Technical Outlook For USD/CHF, CHF/JPY, AUD/CHF & NZD/CHF: 03.08.2017

USD/CHF

Ever since the USDCHF broke 50-day SMA on a daily closing basis, the pair didn’t close below it and is now heading towards nearly three-month old descending trend-line resistance, at 0.9720. Given the pair’s ability to surpass the 0.9720, it gets the license to meet 0.9770 and the 100-day SMA level of 0.9800; however, its further advances may find it difficult to clear 0.9825 and the 0.9860 resistances. Meanwhile, the pair’s daily close below 50-day SMA level of 0.9645 may have 0.9625 and the 0.9600 as follow-on supports, breaking which it can drop to 0.9560 and the 0.9530 rest-points. In case if sellers refrain to respect 0.9530, chances of witnessing the quote’s south-run to re-test July lows, around 0.9740-35, can’t be denied.

CHF/JPY

chfjpy

Even if 113.80-75 horizontal-line triggered the CHFJPY’s bounce, the pair can’t be termed strong for even short-term unless it clears the 114.95–115.00 horizontal-line, which if broken enable prices to rally towards 115.40, 115.80-85 and the 116.40-50 region. Should buyers manage to conquer 116.50, they can then target 116.90 and the 117.10 resistances. On the downside, break of 113.75 can fetch the pair to the 113.40 and the 113.00 while its following declines can rest around 112.90 and the 112.50-45. In case of the pair’s additional drop after 112.45, 112.00 & 111.60 can please the sellers.

AUD/CHF

audchf

While AUDCHF’s bounce from 0.7660 signal brighter chances of its recovery to 0.7700, an immediate descending trend-line resistance, at 0.7725, might restrict the pair’s following upsides, breaking which 0.7740 and the 0.7755 can entertain short-term buyers. Given the pair’s further upside after 0.7755, the 0.7780 and the 61.8% FE level of 0.7830 should flash in Bulls’ radar. If at all the pair fails to sustain latest pullback and declines below 0.7660, an upward slanting TL, at 0.7615, seems crucial for traders to watch, which if broken can drag prices to 0.7565 and then to 0.7530. During the pair’s additional downside after 0.7530, the 0.7490 and the 0.7465 can become supports.

NZD/CHF

nzdchf

NZDCHF’s inability to sustain the eight-month old descending trend-line break indicates the pair’s re-test to 0.7140-30 horizontal-region. However, comparative strength of the NZD indicates less chances of the quote’s downside after 0.7130, which if happens can fetch it to 0.7100 and an upward slanting TL support of 0.7045. If the pair breaks 0.7045, the 0.7000 psychological magnet and the 0.6950 mark can be availed as rests. Alternatively, 0.7220 and the 0.7250 might offer immediate resistances to the pair, breaking which it can again rise to 0.7275 resistance-line. Moreover, a daily closing above 0.7275 can quickly please buyers with 0.7300 and the 0.7320 resistances while 0.7385-90 and the 0.7450 may act as following landmarks to achieve.

Cheers and Safe Trading,
Anil Panchal

Technical Overview Of USD/CHF, GBP/CHF, AUD/CHF & NZD/CHF: 26.07.2017

USD/CHF

USDCHF’s break of immediate descending trend-channel presently enables the pair to confront the 0.9590 horizontal-line, breaking which 0.9600 and the 0.9650 may act as following resistances before propelling the quote to eight-week long downward slanting TL, at 0.9680. Given the pair’s ability to surpass 0.9680, the 0.9700 could become an intermediate halt ahead of pushing buyers to target 0.9740 and the 0.9770 resistances. On the contrary, the 0.9540 and the 0.9500 seem nearby supports for traders to watch, breaking which the pair can drop to 0.9475. During the pair’s additional downside after 0.9475, recent low around 0.9435 and the channel support-line of 0.9400 might try disappointing Bears.

GBP/CHF

gbpchf

Having bounced from a medium-term ascending trend-line, GBPCHF’s further recovery seems challenged by the 200-day SMA level of 1.2510, which if cleared could help extend the up-moves to 1.2545-50 and then to the 1.2600 round-figure. However, the 1.2650-60 region might confine the pair’s follow-on advances, failing to which can please Bulls with 1.2730, 1.2800 and the 1.2860 consecutive resistances. In case if prices fail to surpass 1.2510 on a daily closing basis, chances of witnessing a pullback to 1.2415 and then to the 1.2365 become brighter. Though, aforementioned TL support, at 1.2270 now, could restrict the pair’s additional downside, breaking which might flash the 1.2210 and the 1.2100 numbers on sellers’ radar.

AUD/CHF

audchf

With a successful bounce from a three-week old ascending trend-line, the AUDCHF now aims for 0.7600 round-figure before challenging the current-month high of 0.7625. Given the quote’s capacity to break 0.7625 resistance-mark, it can aim for 61.8% FE level of 0.7680 and the 0.7700 round-figure while 0.7725 and the 0.7760 can entertain buyers then after. Alternatively, 0.7540 and the 0.7515 TL could offer adjacent supports to the pair, breaking which 0.7465 and the 0.7430-25 may appear on the chart. In case of the pair’s sustained downturn after 0.7425, the 0.7390 and the 0.7345 should be watched carefully.

NZD/CHF

nzdchf

NZDCHF recently broke a downward slanting trend-line, at 0.7095 now, and is rising towards June month high of 0.7140. However, overbought RSI may try limiting the pair’s further upside around then, failing to which can propel prices to 61.8% FE level of 0.7200 ahead of registering 0.7230 resistance as quote. Meanwhile, a dip below 0.7095 could negate the latest breakout and might again drag the pair to 0.7070 and the 0.7040 supports before reigniting the importance of a bit longer ascending trend-line support 0.7015. Should the pair drops below 0.7015, also clears 0.7000 psychological magnet, chances of its extended southward trajectory to 0.6940 and then to 0.6900 can’t be denied.

Cheers and Safe Trading,
Anil Panchal

Important CHF Pairs’ Technical Update: 19.07.2017

USD/CHF

Although USDCHF failed to provide the lowest closing in nearly 11-months during Tuesday, the pair continued trading southwards on Wednesday and is indicating a test to support-line of an immediate descending trend-channel, at 0.9500 now. However, oversold RSI might give rise to its pullback around 0.9500, failing to which can quickly fetch the quote to 2016 low around 0.9440. In case if the sellers refrain to stop after 0.9440 break, the 0.9380, the 0.9300 and the August 2015 low of 0.9255 can please them. Meanwhile, 0.9600 and the 0.9660 are likely nearby resistances that the pair traders should observe, clearing which upper-line of the channel, at 0.9690, followed by 50-day SMA level of 0.9700, might limit the pair’s recovery. During the pair’s successful trading above 0.9700, the 0.9760-65 and the 0.9810 can come-back on the chart.

GBP/CHF

gbpchf

Alike USDCHF, the GBPCHF also indicates further downside with 1.2390 and the 1.2360-50 TL acting as adjacent supports, breaking which 1.2280, 1.2230 and the 1.2200 rests seem wise to expect. Given the pair’s inability to hold 1.2200, the 1.2145 could become a small barrier before dragging prices to January lows, near 1.2100 round-figure. Alternatively, the 1.2495–1.2500, comprising 200-day SMA, should be expected as strong immediate cap for the pair, which if broken can trigger its recovery to the 1.2550, the 1.2610 and then to the 1.2650-60 horizontal-region. If at all buyers manage to surpass 1.2660 on a daily closing basis, the 1.2720 and the 1.2800 can be their next targets.

CHF/JPY

chfgpy

Having bounced from 116.45-40 horizontal-support, the CHFJPY indicates its short-term recovery towards 117.75-80 area, clearing which 118.00 and the 118.30 can entertain follow-on buyers. If prices continue rising after 118.30, the 118.60 and the 61.8% FE level of 119.25 should flash as resistances. Given the pair’s inability to stretch latest pullback, the 117.00 and the 116.60 might offer quick stops before reigniting the importance of 116.45-50 line. However, pair’s break of 116.40 makes it vulnerable to plunge towards the 115.90, the 115.15 and the 115.00 consecutive supports.

NZD/CHF

nzdchf

With its failure to extend the latest pullback beyond 0.7115, the NZDCHF seems all set to revisit the 0.6980 TL support ahead of meeting the 50-day SMA figure of 0.6950. Should CHF strength fetches the quote below 0.6950, the 0.6900, the 0.6870 and the 0.6845 can be expected as supports. On the upside, the 0.7115 and the 0.7130-40 horizontal-region are likely stops that the pair can avail in case of reversal. However, a break of 0.7140 on daily closing basis should be considered as a strong signal to propel prices towards 0.7170, 0.7200 and the 0.7260 resistance-levels.

Cheers and Safe Trading,
Anil Panchal

Morning Market Update – Swiss Franc Looks for Support

The United States API Weekly Crude Oil Stocks came in at 0.85M versus a previous value of -2.72M. Minneapolis Fed Reserve President Kashkari spoke in a town hall event and stated that another crisis is not approaching for now. The People’s Bank of China set the Yuan midpoint rate at 6.8053 versus yesterday’s fix of 6.8292.

Moving on for the day, we have the Swiss UBS Consumption Indicator followed by the ZEW Financial Market Survey which has been rising with the recent releases and this should boost the Swiss.

Greenback has some major news with the Goods Trade Balance seen at a negative $68B. Pending Home Sales and EIA Crude Oil Stocks change showed signs of recovery and this should be good for the greenback.

Bank of Canada (BOC) Governor Poloz spoke about the monetary policy and economic outlook. ECB President Draghi’s speech stated that the policy statement is working and its full effects on inflation will materialize soon. Later in the day, we have the Bank of England (BOE) Governor Carney’s speech which will decide the course of the greenback.

For more detailed analysis from the author, visit NoaFX.

Technical Checks For USD/CHF, GBP/CHF, CHF/JPY & CAD/CHF: 15.06.2017

USD/CHF

USDCHF’s recovery from 0.9610 might find it hard to surpass a month-old descending trend-line, at 0.9755 now, which in-turn could fetch the pair to the 0.9700 re-test. During the pair’s additional downside below 0.9700, the 0.9690 and the 0.9670 may offer intermediate halts prior to dragging it towards the 0.9650 horizontal-line. In case if the pair fails to respect 0.9650, the 0.9610 could only become a small barrier for it to clear ahead of meeting 61.8% FE level of 0.9580. On the contrary, sustained break of 0.9755 TL enables the pair to aim for 0.9775 and the 0.9800 round-figure before targeting 0.9850-55 resistance-region. Should prices continue rising after 0.9855, it seems wise to expect 0.9890 and the 0.9915 to appear on the chart.

GBP/CHF

gbpchf

With the clear break of month-old descending trend-line resistance after hawkish outcome from the BoE, the GBPCHF now aims for 1.2490 ahead of targeting the 200-day SMA level of 1.2515. Given the pair sustain its recent strength and closes beyond 1.2515, the 1.2600, the 1.2620 and the 1.2685 can please Bulls. If the latest up-move fails to last long, the 1.2380 seems an immediate support for the pair, breaking which 1.2280 and the 1.2240 could be expected as rests. Should prices drop below 1.2240, the 1.2200, the 1.2150 and the January low near 1.2100 may come in sellers’ radar.

CHF/JPY

chfjpy

Unlike previous two-pairs, which are near to their short-term resistances, the CHFJPY is aiming for 112.50-45 horizontal-support re-test, clearing which it could further drop to 111.80 and the 111.60 rest-points. During the pair’s additional downturn below 111.60, the 111.00, the 110.35 and the 110.00 are likely supports that should be given proper attention. Meanwhile, pair’s bounce form present levels could flash 113.00 and the 113.25 on the chart while a fortnight-long descending trend-line, at 113.80 now, may try to restrict its following upside. If prices rally beyond 113.80, the 114.15 and the 114.40-45 can become intermediate stops that can availed during a north-run to 115.15, near to May month high.

CAD/CHF

cadchf

Having broke 50-day SMA on a daily closing basis, the CADCHF is slowly rising towards 0.7385-90 horizontal-line, which if broken enables the quote to target the 0.7420, the 0.7455 and the four-month old descending trend-line around 0.7470. Given the pair’s successful trading above 0.7470, the 0.7525 and the 0.7600 can become buyers’ favorite. Alternatively, 50-day SMA level of 0.7300 can offer immediate support to the pair, breaking which 0.7270 and the 0.7225 could follow the suit. Moreover, pair’s additional south-run below 0.7225 needs to clear 0.7170 in order to revisit 0.7130-20 support-zone.

Cheers and Safe Trading,
Anil Panchal

Important CHF Pairs’ Technical Update: 07.06.2017

USD/CHF

Having bounced from 0.9612, the USDCHF recently surpassed a week-long descending trend-channel resistance, at 0.9645 now, and is signaling the 0.9700 mark to come up on the chart. Should the pair maintain its latest strength after 0.9700, 0.9720, 0.9735 and the 0.9760 are likely buffers that it can avail before looking at 0.9800 mark. Meanwhile, a dip below 0.9645 favors chance of 0.9612 re-test which is close to 0.9600 round-figure support. Given the pair keep trading southwards after 0.9600 break, the 0.9570 and the channel’s support-line of 0.9555 can please sellers while 0.9530 becomes a crucial stop for traders to observe during the quote’s additional drop.

EUR/CHF

eurchf

EURCHF presently indicates a quick test to month-old descending trend-line support of 1.0835, breaking which 50-day SMA level of 1.0815 and the 1.0795 are important rests that can confine the pair’s near-term downturn. If prices continue declining after 1.0795, the 1.0780 and the 1.0750 can come-back on the chart. Should the quote reverses from present levels, 1.0865 and the 1.0885 resistance-line may entertain immediate buyers. However, pair’s break of 1.0885 on a daily closing basis can confirm “Falling-Wedge” Bullish formation and may further propel it to 1.0920, 1.0935 and 1.0970 before challenging the May high of 1.0985.

CHF/JPY

chfjpy

With the CHFJPY’s latest break of six-week old ascending trend-line, the pair seems vulnerable to extend its downturn towards 112.60, 112.30 and the 111.60 consecutive supports. In case if sellers dominate prices after 111.60, the 111.30 is a barrier that they need to conquer in order to target 110.00 psychological magnet. Alternatively, the 113.35 and the 113.80 can limit the pair’s immediate up-moves, breaking which 114.00, 114.40 & 114.75 should entertain buyers. Given the pair’s sustained up-moves after 114.75, it can extend northward trajectory to the 115.20 and the 61.8% FE level of 116.15.

AUD/CHF

audchf

Following its bounce from 0.7145, the AUDCHF confronts the seven-week long descending trend-line resistance of 0.7295, immediately followed by 0.7300 round-figure. If the pair closes above 0.7300, the 0.7340 & 0.7385 may act as intermediate halts prior to 50-day SMA, at 0.7420, limiting its follow-on advances. On the downside, 0.7230, 0.7200 and the 0.7145 are expected adjacent supports to be watched by traders, breaking them could open the door for the pair’s south-run towards 0.7100, 0.7060 and the 0.7000 psychological magnet.

Cheers and Safe Trading,
Anil Panchal

Technical Update Of Important JPY Pairs: 24.05.2017

USD/JPY

Even after clearing the 111.70-75 horizontal-line, the USDJPY failed to extend it’s north-run and is presently re-testing the resistance-turned-support, breaking which it can visit 111.50 & the 111.00 round-figure. However, an upward slanting trend-line, at 110.50, may restrict the pair’s additional decline following 111.00 break, which if cleared can fetch prices to 110.00, 109.60 and the 109.30 consecutive rest-points. Meanwhile, 112.00, the 112.40 and the 112.60 TL-mark are likely nearby resistances that can confine the quote’s immediate advances. Should the pair manage to surpass 112.60, it becomes capable enough to challenge 113.15, 113.65 and the 114.00 north-side numbers.

GBP/JPY

gbpjpy

Unlike USDJPY, the GBPJPY is expected to extend its latest recovery towards 145.75 and the 147.00 before targeting the 147.90 – 148.00 horizontal-line again. If Bulls propel the pair beyond 148.00 on a daily closing basis, the 149.20 and the 150.00 can entertain follow-on buyers while 151.20 could give rise to chances of its pullback. Should prices take a U-turn from present levels, the 144.50 and the 143.30 can act as adjacent stops prior to dragging them to 142.70 and the 50-day SMA level of 141.40. During the course of pair’s additional downside below 141.40, the 140.00 may offer a barrier ahead of the 138.30-20 region’s, comprising 200-day SMA and the seven-month old ascending trend-line, capacity to limit the south-run.

AUD/JPY

audjpy

Following its four-day long recovery, the 50-day SMA level of 83.80 currently becomes important for AUDJPY traders to observe, breaking which the 84.20 and the 84.40-50 horizontal-line gains attention. Given the pair’s capacity to surpass 84.50, the 84.80 and the 100-day SMA level around 85.00 may please buyers, breaking which chances of the quote’s rally towards 85.80-85 can’t be denied. Alternatively, 83.10 and the 82.70 are likely supports that the pair can avail during its pullback, which if broken could extend the profit-booking in direction to 82.30, 81.80 and the 81.45 consecutive supports.

CHF/JPY

chfjpy

CHFJPY presently confronts the five-month old descending trend-line, at 114.80, which seems the only barrier for the pair to crack before it could revisit the 115.50. Should prices sustain their upward trajectory beyond 115.50, the 61.8% FE level of 116.10, the 116.80 and the 117.40 may be flashed on the chart. On the downside, a daily close below 114.20 can trigger the pair’s fresh pullback towards 113.70, 113.30 and the 112.85 while 100-day SMA level of 112.50 becomes crucial which can restrict its additional south-run. If at all Bears dominate the quote after 112.50 break, the 111.80 and the 111.50 can come in their radar.

Cheers and Safe Trading,
Anil Panchal