Thursday, December 3, 2015

CHF/JPY At Resistance

The pair is trading exactly at the long term resistance at 122.50-122.70. Have in mind that today was a day filled with high volatility caused by the Euro. Its impact was felt all over the markets and CHF/JPY was not an exception.

The pair was heavily traded for the past few hours and bulls managed to reach the potential sell zone at 122.50. Currently price is still trying to pick a direction, one problem is the high volatility, so if you want to take any heavy positions, first wait for the noise to pass and open your position in silence.

First resistance - current market price (122.50), first support - 121.80.

Chart: CHF/JPY D1


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6 comments:

  1. UnknownDecember 3, 2015 at 5:34 PM

    Today's fundamentals pushed the pair up and it will probably soon reach 123.50.

    ReplyDelete
  2. UnknownDecember 3, 2015 at 5:48 PM

    Good point! I'll keep an eye on it.

    ReplyDelete
  3. UnknownDecember 3, 2015 at 7:25 PM

    Good resistance and support levels.

    ReplyDelete
  4. UnknownDecember 4, 2015 at 3:11 AM

    Not the pair I normally trade, but thanks for the analysis.

    ReplyDelete
  5. UnknownDecember 4, 2015 at 10:17 AM

    Great analysis!

    ReplyDelete
  6. UnknownDecember 7, 2015 at 6:26 AM

    Interesting levels to be watchful of, thanks for the info.

    ReplyDelete

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